Insurance Commissioner Dennis Funa
MANILA – Insurance Commissioner Dennis Funa has welcomed the initiative taken by SGI Philippines General Insurance (SGI Philippines), a non-life insurance company, to assist the families of all licensed non-life insurance intermediaries and their employees affected by coronavirus disease 2019 (Covid-19).
In a statement Thursday, Funa said SGI Philippines has earmarked PHP10 million which will be used to provide some relief to qualified dependents of a deceased non-life insurance agent or broker and/or and their employee who may have died due to Covid 19.
“We commend the initiative of SGI Philippines in working alongside the government to help alleviate the suffering of our fellow countrymen and to minimize the financial impact of the Covid 19 situation,” he said.
Under this initiative, SGI Philippines will provide PHP25,000 in financial assistance to the dependents of its insurance intermediaries and employees who are casualties of Covid and whose annual income is less than PHP600,000.
“Insurance agents are the front-liners of the insurance industry. The assistance program of SGI Philippines for all non-life intermediaries and employees who are affected by Covid-19 will directly provide financial assistance to the dependents of these frontliners,” Funa said.
On March 28, Funa issued a circular letter urging insurance companies, mutual benefit associations, pre-need companies, and health maintenance organizations to formulate and implement relief and assistance programs to aid their respective sales agents who earn on commission basis for the duration of the Covid-19 situation. (PR)
