BY: LEONARD T. PINEDA I
Monday 24th of March 2014
ILOILO CITY, March 24 (PIA) --- Stakeholders from the microinsurance industry in the Visayas can take part in an Alternative Dispute Resolution Microinsurance (ADReM) Seminar on Thursday, March 27, 2014 at Smallville 21 Hotel here.
In a media release, the one-day ADReM seminar is the final leg in the series of seven nationwide information dissemination campaigns conducted by the Department of Finance-National Credit Council (DOF-NCC) and the Insurance Commission (IC).
The ADReM series steered to discuss options and microinsurance mechanisms to address complaints on benefit claims outside the courtroom.
The seminar will educate participants and partners from the microinsurance industry about microinsurance initiatives, circulars, financial literacy, ADReM process and accreditation procedures for mediators-conciliators through videos and interesting presentations.
IC Deputy Commissioner Ferdinand George Florendo and DOF-NCC Director Joselito Almario will also engage participants in discussions on microinsurance.
Microinsurance is insurance for low income earners to protect them against specific perils. It comes with affordable premiums, guaranteed benefits correspond to the risks, and claims settlement is fast. Today, 19 million Filipinos out of the 97 million populations are covered by microinsurance.
The ADReM method is now formalized to support the Philippine Government’s effort for inclusive growth by reaching out to the poorest of the poor. It aims to minimize expenses, time and delays of litigation, and provides options for out-of-court resolution of disputes arising from denied microinsurance claims.
According to Florendo, the ADReM structural processwill further promote microinsurance through the principles of Least-cost, Accessible, Practical, Effectively and Timely resolution of disputes.
The DOF-NCC and IC worked in collaboration with key representatives from the microinsurance industry with technical support from the German International Cooperation thru its regional program, Regulatory Framework Promotion of Pro-poor Insurance Markets in Asia (GIZ-RFPI Asia) to help implement the provisions of the ADReM Framework.
The ADReM Framework was launched last October 2012 with the intention of ensuring consumer protection by microinsurance clients. (JCM/LTP/PIA-Iloilo)
- See more at: http://news.pia.gov.ph/index.php?article=2421395646149#sthash.2906JgvT.dpuf
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