• Toggle Accessibility Statement
  • Home
  • Contacts
  • Feedback
  • FAQ
  • Search
  • Skip to Main Content
  • Sitemap
Menu
GOVPH
  • Home
  • About the Commission
    • Introduction
    • Vision, Mission, and Shared Core Values
    • Mandates, Objectives, and Functions
    • Seal of the Insurance Commission
    • Quality Policy
    • Organizational Structure
    • IC Directory of Officials
    • Commissioner’s Corner
  • Transparency Seal
  • Citizen’s Charter
  • IC-FOI
  • Financial Stability Report
  • Contact Us
  • SUB MENU
  • Issuances
    • Anti-Money Laundering
    • Corporate Governance
    • Laws
      • Amended Insurance Code R.A. 10607
      • The Insurance Code P.D. 612
      • Pre-Need Code R.A. 9829
      • IRR of R.A. 9829
      • Transfer of HMO EO 192, s. 2015
      • Insurance Guidelines on Rule XVI – RA8042
    • Circular Letters
    • Legal Opinions
    • Insurance Commission Ruling
    • Department Orders
    • Insurance Memoranda
    • Pre-Need Memoranda
    • Joint Memorandum
  • News
    • Press Release
    • Advisories
    • Notice to the Public
    • Insurance Forum
  • Regulated Entities
    • List of Illegally Operating Companies
    • Life and Non-Life Companies
    • Insurance Companies Authorized to Act as Sureties
    • Pre-Need Companies
    • Health Maintenance Organization
    • Mutual Benefit Associations
    • Companies under CRL
    • Accredited Actuaries
      • Accredited Insurance Actuaries
      • Accredited Pre-Need Actuaries
      • Accredited HMO Actuaries
    • Accredited External Auditors
    • Brokers
      • Insurance Brokers
      • Reinsurance Brokers
    • Accredited Mediator-Conciliator ADReM
    • Resident Agents
    • Insurance Adjusters
  • Statistics
    • Statistical Report
    • Life
    • Non-Life
    • Pre-Need
    • Insurance Brokers
    • Reinsurance Brokers
    • IC Annual Report
    • Key Data
  • Agents’ Examination
    • Result of Exams
  • Procurement
    • Annual Procurement Plan
    • Procurement Monitoring Report
    • Invitation to Bid
    • Bidding Documents
    • Supplemental Bid Bulletin
    • Notice of Award
    • Notice to Proceed
  • Resources
    • IC Employment Application Forms
    • FRF and RBC 2 Templates
    • HMO Templates
    • Rating Templates
    • SEGURO Template
    • Forms/Downloadables
    • Manuals
  • Careers
    • Career Opportunities
    • Authority to Assume
  • FAQs
  • ELS
  • GADFPS
  • GOVPH
  • Home
  • About the Commission
    • Introduction
    • Vision, Mission, and Shared Core Values
    • Mandates, Objectives, and Functions
    • Seal of the Insurance Commission
    • Quality Policy
    • Organizational Structure
    • IC Directory of Officials
    • Commissioner’s Corner
  • Transparency Seal
  • Citizen’s Charter
  • IC-FOI
  • Financial Stability Report
  • Contact Us
    • Accessibility Statement
    • High Contrast
    • Skip to Content
    • Skip to Footer

Philippine Standard Time:
  • Issuances
    • Anti-Money Laundering
    • Corporate Governance
    • Laws
      • Amended Insurance Code R.A. 10607
      • The Insurance Code P.D. 612
      • Pre-Need Code R.A. 9829
      • IRR of R.A. 9829
      • Transfer of HMO EO 192, s. 2015
      • Insurance Guidelines on Rule XVI – RA8042
    • Circular Letters
    • Legal Opinions
    • Insurance Commission Ruling
    • Department Orders
    • Insurance Memoranda
    • Pre-Need Memoranda
    • Joint Memorandum
  • News
    • Press Release
    • Advisories
    • Notice to the Public
    • Insurance Forum
  • Regulated Entities
    • List of Illegally Operating Companies
    • Life and Non-Life Companies
    • Insurance Companies Authorized to Act as Sureties
    • Pre-Need Companies
    • Health Maintenance Organization
    • Mutual Benefit Associations
    • Companies under CRL
    • Accredited Actuaries
      • Accredited Insurance Actuaries
      • Accredited Pre-Need Actuaries
      • Accredited HMO Actuaries
    • Accredited External Auditors
    • Brokers
      • Insurance Brokers
      • Reinsurance Brokers
    • Accredited Mediator-Conciliator ADReM
    • Resident Agents
    • Insurance Adjusters
  • Statistics
    • Statistical Report
    • Life
    • Non-Life
    • Pre-Need
    • Insurance Brokers
    • Reinsurance Brokers
    • IC Annual Report
    • Key Data
  • Agents’ Examination
    • Result of Exams
  • Procurement
    • Annual Procurement Plan
    • Procurement Monitoring Report
    • Invitation to Bid
    • Bidding Documents
    • Supplemental Bid Bulletin
    • Notice of Award
    • Notice to Proceed
  • Resources
    • IC Employment Application Forms
    • FRF and RBC 2 Templates
    • HMO Templates
    • Rating Templates
    • SEGURO Template
    • Forms/Downloadables
    • Manuals
  • Careers
    • Career Opportunities
    • Authority to Assume
  • FAQs
  • ELS
  • GADFPS
  • Home » 
  • Issuances » 
  • Current: Legal Opinions

Legal Opinions

2019 Legal Opinion

Legal Opinion NumberSubjectDate Issued
LO-2019-11Compliance with CL No. 2018-06 in connection with AMLC Resolution No. 107-2017, AMLC Regulatory Issuance (A) No. 4-201730 October 2019
LO-2019-10Request for Legal Opinion (Mitsui & Co. (Asia Pacific) Pte. Ltd)29 October 2019
LO-2019-09Request for Legal Opinion on the Obligation to Conduct Customer Due Diligence, Covered Transaction Report & Suspicious Transaction In Compliance with IC CL No. 2018-4818 October 2019
LO-2019-08AComprehensive Motor Insurance on Trailers19 June 2019
LO-2019-08Motor Insurance Policy Coverage for Articulated Vehicles18 June 2019
LO-2019-07BIMA's Proposed Business Model in Partnership with Globe Telecommunications, lnc.29 May 2019
LO-2019-06Assignment of a Company as the Beneficiary under CCT MBA's Basic Life Insurance Plan or BLIP02 April 2019
LO-2019-05Request for Legal Opinion on the Application/Enrollment Form of Microinsurance25 March 2019
LO-2019-04Inquiry on whether Starr International Insurance Philippines Branch is subject to strict compliance of the Insurance Commission (IC) Circular Letter (CL) No. 2018-36 dated 26 June 201819 March 2019
LO-2019-03Clarification on Compulsory OFW Insurance14 March 2019
LO-2019-02Inquiry on Firearms Bonds15 February 2019
LO-2019-01The Certificate of Authority to Issue Surety Bonds in Favor of the Government in Connection with 1CISP’s Accreditation with the Supreme Court15 February 2019

2018 Legal Opinion

Legal Opinion NumberSubjectDate Issued
LO-2018-01Proper Interpretation of Section 39.2 (c) Rule XI of the 2016 Implementing Rules and Regulations of Republic Act No. 9184 Pertaining to Performance Bonds05 January 2018
LO-2018-02Wordings of Performance Bond “Up to Final Acceptance of the Project”25 January 2018
LO-2018-03Inquiry on the Matter of Doing Business in the Philippines30 January 2018
LO-2018-04Clarification on the Engagement of Product Specialist in Relation to Insurance Brokerage02 March 2018
LO-2018-05Shared Services Agreement between Philippine AXA Life Insurance and AXA Shared Services Centre Philippines05 March 2018
LO-2018-06Shared Services Agreement between Philippine AXA Life Insurance and Charter Ping An Insurance Corporation05 March 2018
LO-2018-07Clarification on Section 2.4 of Insurance Memorandum Circular No. 2-8507 March 2018
LO-2018-08Use of Alien Employment Permit and Special Investor’s Visa in lieu of the Alien Certificate of Registration and Immigrant Certificate of Residence in the Application for a license as Insurance Agent13 March 2018
LO-2018-09Foreign Ownership of Shares in a Domestic Insurance Company05 April 2018
LO-2018-06AClarification and Confirmation regarding One Management Arrangement between AXA Philippines and Charter Ping An16 April 2018
LO-2018-10Investment Restrictions of Directors and Officers of Pre-Need Companies16 April 2018
LO-2018-11Applicability of the Insurance Premium Cap Under IC Circular Letter (CL) No. 15-2007 dated 07 August 2007 on Insurance Products Brokered to Citibank Clients Through Telemarketing Channel30 April 2018
LO-2018-12Application of Article 2012 of the Civil Code of the Philippines on the Designation of Beneficiary/ies of a Life Insurance Policy17 May 2018
LO-2018-13Determining the Qualification of a Foreign National with Pending Application for a Refugee Status to Undertake the Insurance Agent’s Examination23 July 2018
LO-2018-14Use of the AXA Trademark by Charter Ping An Insurance Corporation25 July 2018
LO-2018-15Request for Certification and/or Clarification with regard to Foreign Equity Ownership of Domestic Non-Life Insurance Company03 September 2018
LO-2018-16Request for Clarification on Outsourcing Arrangement Between; (1) Insurance Company of North America (a Chubb Company) (“Chubb Philippines”); and (2) its affiliate PEZA-registered entity, Chubb Business Services15 October 2018
LO-2018-17Outsourcing of Third Party/Payment Gateway Provider for Premium Collection on behalf of a Brokering Company19 November 2018

2017 Legal Opinion

Legal Opinion NumberSubjectDate Issued
LO-2017-01Amendment of Articles of Incorporation of a Reinsurance Company to add a Secondary Purpose18 May 2017
LO-2017-02Certain Insurance Policies that may be Issued by a Non-Life Insurance Company23 May 2017
LO-2017-03Inquiry Regarding Exemption from Garnishment and/or Execution of Variable Life Insurance Policy15 June 2017
LO-2017-04Number of Life Insurance Companies Allowed to be Represented by an Agent03 July 2017
LO-2017-05Insurability of Exemplary Damages (Re: Directors and Officers Liability Insurance Coverage)12 July 2017
LO-2017-06Inquiry regarding Out-sourcing of Personnel25 August 2017
LO-2017-07Power of a Corporation to Act As An Insurance Agent15 September 2017
LO-2017-08Request for clarification on the Provisions of IC Circular No. 2015-20 30 October 2017

Issuances

  • Laws
    • Amended Insurance Code R.A. 10607
    • The Insurance Code P.D. 612
    • Pre-Need Code R.A. 9829
    • IRR of R.A. 9829
    • Transfer of HMO EO 192, s. 2015
    • Insurance Guidelines on Rule XVI – RA8042
  • Circular Letters
  • Legal Opinions
  • Insurance Commission Ruling
  • Department Orders
  • Insurance Memoranda
  • Pre-Need Memoranda
  • Joint Memorandum

Public Assistance

Email Us
publicassistance@insurance.gov.ph
reportscam@insurance.gov.ph
Call Us
IC Manila
Trunkline: (632) 8-523-84-61 to 70 local 127/103
Direct: (632) 8-404-17-58
IC Cebu District Office
Direct: (032) 254-08-61
IC Davao District Office
Direct: (082) 327-36-51
Visit Us
IC Manila
1071 United Nations Ave.,
Ermita, Manila
IC Cebu District Office
Door 10-11 Ground Floor, HVG Arcade I.T. Park,
Subangdako, Mandaue City, Cebu
IC Davao District Office
Door 2 & 3, 3rd Floor of YAP Building
Quimpo Boulevard, Ecoland, Davao City

Regulated Entities

  • Life & Non-Life Companies
  • Pre-Need Companies
  • Health Maintenance Organizations
  • Mutual Benefit Associations
  • Accredited Actuaries
  • Brokers
  • Resident Agents
  • Insurance Adjusters
  • Directory of Insurance Companies
  • Directory of Pre-Need Companies
  • Directory of HMOs

Related Laws and Issuances

  • AMLA
  • Amended Insurance Code
  • Insurance Code
  • Pre-Need Code
  • IRR of Pre-Need Code
  • Transfer of HMO
  • Circular Letters
  • Insurance Memoranda
  • Department Orders
  • Joint Memorandum

Resources

  • FRF and RBC 2 Templates
  • HMO Templates
  • SEGURO Template
  • Galleries
  • Forms
  • Manuals

DOF Attached Agencies

  • Bureau of Internal Revenue
  • Bureau of Customs
  • Bureau of Treasury
  • Bureau of Local Government Finance
  • Cooperative Development Authority
  • National Tax Research Center
  • Central Board of Assessment Appeals
  • Philippine Deposit Insurance Corporation
  • Philippine Export - Import Credit Agency
  • Privatization and Management Office