Source: eDaily | 14 Aug 2013
The Philippine Insurance Commission (PIC) has issued concrete guidelines to implement the Alternative Dispute Resolution for Microinsurance (ADReM) framework. ADReM aims to provide options to resolve disputes outside the courtroom and to minimise the expense and delay of litigation.
The guidelines for the implementation of ADReM will require all insurance entities, agents and brokers which are engaged in the microinsurance business to follow mediation-conciliation processes of claims dispute based on parameters under the banner, “Least cost, Accessible, Practical, Effective and Timely” or “LAPET”.
“The ADReM is another milestone for initiatives on microinsurance. With it, we can ensure consumer protection to the more than four million lives covered by microinsurance,” Insurance Commissioner Emmanuel Dooc said.
“The ADReM is about building bridges, closing the distance – physically and administratively – between conflicting parties and the insurance regulator,” said Mr Joselito Almario, National Credit Council Director in the Department of Finance.
To implement the resolution procedures, the PIC will accredit a pool of mediator-conciliators from which the parties in dispute can make their selection. The conflict will then be settled through a graduation of levels, beginning at community-level mediation, prior to reaching the PIC level, if necessary.
Distinct ADReM procedures have been designed for commercial insurance companies, for mutual benefit associations, and for cooperative insurance societies.
The ADReM Framework is a product of a public-private collaboration through a working group composed of the DOF-NCC, life and non-Life insurance associations (PLIA and PIRA), Rural Bankers Association of the Philippines, Chamber of Mutual Benefit Associations, Microfinance Council of the Philippines, Society of Independent Insurance Intermediaries of the Philippines, Life Underwriters Association of the Philippines and MicroEnsure Insurance Brokers Philippines. The Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ, or German Society for International Cooperation) has been providing technical assistance and funding.
The information dissemination campaign for the ADReM will be rolled out in seven regions in the Philippines beginning in September, said GIZ-RFPI Programme Director, Dr Antonis Malagardis. The new guidelines take reference from the ADReM Framework adopted by the PIC and the industry in October 2012 after a series of stakeholder consultations around the country.
The Philippine Insurance Commission (PIC) has issued concrete guidelines to implement the Alternative Dispute Resolution for Microinsurance (ADReM) framework. ADReM aims to provide options to resolve disputes outside the courtroom and to minimise the expense and delay of litigation.
The guidelines for the implementation of ADReM will require all insurance entities, agents and brokers which are engaged in the microinsurance business to follow mediation-conciliation processes of claims dispute based on parameters under the banner, “Least cost, Accessible, Practical, Effective and Timely” or “LAPET”.
“The ADReM is another milestone for initiatives on microinsurance. With it, we can ensure consumer protection to the more than four million lives covered by microinsurance,” Insurance Commissioner Emmanuel Dooc said.
“The ADReM is about building bridges, closing the distance – physically and administratively – between conflicting parties and the insurance regulator,” said Mr Joselito Almario, National Credit Council Director in the Department of Finance.
To implement the resolution procedures, the PIC will accredit a pool of mediator-conciliators from which the parties in dispute can make their selection. The conflict will then be settled through a graduation of levels, beginning at community-level mediation, prior to reaching the PIC level, if necessary.
Distinct ADReM procedures have been designed for commercial insurance companies, for mutual benefit associations, and for cooperative insurance societies.
The ADReM Framework is a product of a public-private collaboration through a working group composed of the DOF-NCC, life and non-Life insurance associations (PLIA and PIRA), Rural Bankers Association of the Philippines, Chamber of Mutual Benefit Associations, Microfinance Council of the Philippines, Society of Independent Insurance Intermediaries of the Philippines, Life Underwriters Association of the Philippines and MicroEnsure Insurance Brokers Philippines. The Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ, or German Society for International Cooperation) has been providing technical assistance and funding.
The information dissemination campaign for the ADReM will be rolled out in seven regions in the Philippines beginning in September, said GIZ-RFPI Programme Director, Dr Antonis Malagardis. The new guidelines take reference from the ADReM Framework adopted by the PIC and the industry in October 2012 after a series of stakeholder consultations around the country.
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These guidelines would be very helpful to insurance holders, nice article, very informative.
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Thanks for the guidelines. Small business owners, such as online establishments especially the
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