Mga benepisyo na makukuha sa ilalim ng CMVLI Policy, dinoble ng Insurance Commission
Mga benepisyo na makukuha sa ilalim ng CMVLI Policy, dinoble ng Insurance Commission
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00:00 The premium paid will not increase.
00:03 This is what the insurance commission promised
00:05 following the doubling of the benefits
00:07 that can be obtained under the compulsory motor vehicle liability insurance.
00:12 The details are in the report of Bernard Ferrer.
00:15 The Philippine National Taxi Operators Association of Pintoa
00:22 was pleased that the insurance commission doubled
00:24 the benefits that can be obtained
00:26 under the compulsory motor vehicle liability insurance or CMVL.
00:30 This is a big help for some victims of vehicle accidents
00:34 who have medical bills.
00:36 But it should be noted that the premium paid
00:40 by the owners of the vehicle will not increase.
00:43 Aside from the CMVL, they also pay
00:46 the passengers accident management and insurance or PAMI.
00:49 We're very happy because it was increased
00:51 I think from 100,000 to 200,000.
00:54 On the part of the public transport sector,
00:57 I can speak for not only the taxis but also for the jipneys and the buses,
01:02 it's okay as long as the premium will not increase.
01:05 Under the Insurance Memorandum Circular 2024-01,
01:10 the third-party liability that can be obtained under the CMVL
01:14 was added to 200,000 pesos from the previous 100,000 pesos.
01:19 The same goes for the debt indemnity
01:21 as well as the burial and funeral expense indemnity
01:24 was increased to 200,000 pesos from the previous 70,000 pesos
01:29 and the burial and funeral expense indemnity to 30,000 pesos.
01:33 While the no-fault indemnity was doubled from 15,000 pesos to 30,000 pesos.
01:40 It's a good thing if the process of issuing the insurance claim will be faster.
01:45 The same goes for lowering the CMVL payment
01:48 especially if it is not used.
01:50 In America, for example,
01:52 you don't have a claim for 10 years
01:55 and your insurance premium is decreasing.
01:57 For us, it's the same.
02:00 But here, for the third-party liability, it's always the same.
02:03 The Insurance Commission assured that they will not increase the premium
02:06 but if there is a premium adjustment, they will study it thoroughly.
02:11 The CMVL policy is a requirement under the law for those who register their vehicle.
02:17 The insurance is a requirement for those who own a vehicle
02:21 to be able to pay even if they have an accident
02:23 where the vehicle was hit by a car or was killed.
02:26 Bernard Ferrer for Pambansang TV in Bagong, Philippines.