HUDCC INSURANCE MEMORANDUM CIRCULAR NO. 1-96, January 01, 1997

[ HUDCC INSURANCE MEMORANDUM CIRCULAR NO. 1-96, January 01, 1997 ]

AMENDMENT OF INSURANCE MEMORANDUM CIRCULAR NO. 1-84 DATED FEBRUARY 23, 1984, REVISING THE LIMITS OF LIABILITY, SCHEDULE OF INDEMNITIES AND PREMIUM RATES FOR THE COMPULSORY MOTOR VEHICLE LIABILITY INSURANCE (CMVLI) COVERS

Pursuant to the authority vested in me by the provisions of Section 414 in relation to Chapter VI of Presidential Decree No. 1460 as amended, otherwise known as the Insurance Code of 1978, rates prescribed in the provisions of Insurance Memorandum Circular No. 1-84 dated February 23, 1984 are hereby revised as follows: I Limits of Liability

The limits for third party liability for all CMVLI covers shall be Fifty Thousand Pesos (P50,000.00) each for all types of motor vehicles with an additional Fifty Thousand Pesos (P50,000.00) for passenger liability if the motor vehicle is used as a public utility vehicle.

II Schedule of Indemnities for Bodily Injury and/or Death

The following Schedule of Indemnities shall be observed in the settlement of claims for death, bodily injuries, professional fees and hospital charges for services rendered to traffic accident victims under the CMVLI policy.

a) Death Indemnity P35,000.00

Burial and Funeral Expenses 15,000.00

b) Bodily Injuries and Fractures

Types of Accommodation or Professional Attendance Extended

Services Rendered

Maximum Reimbursable Fees and/or Charges

1. Hospital Rooms Maximum of 45 days per accident P500.00/day

Laboratory examination fees, x-rays 2,000.00

2. Surgical Expenses Major Operation Medium Operation Minor Operation 7,500.00 5,000.00 1,500.00

3. Anaesthesiologist’s Fee Major Operation Medium Operation Minor Operation 2,500.00 2,000.00 500.00

4. Operating Room Major Operation Medium Operation Minor Operation 1,500.00 1,000.00 500.00

5. Medical Expenses For daily visits of Practitioner or Specialists 200.00/day

The total amount of medical expenses must not exceed (For single period of confinement) 2,500.00

6. Drugs and Medicine Actual value of drugs and medicine used but not to exceed 12,5000.00

c) Permanent Disablement Amount

Loss of or Loss of Use of:

Two Limbs P25,000.00

Both Hands, or All Fingers and Both Thumbs 25,000.00

Both Feet 25,000.00

One Hand and One Foot 25,000.00

Sight of Both Eyes 25,000.00

Injuries resulting in being permanently bedridden 25,000.00

Any other injury causing permanent total disablement 25,000.00

Arm at or above elbow 17,000.00

Arm between elbow and wrist 12,000.00

Hand 10,000.00

Four Fingers and Thumb of one hand 10,000.00

Four Fingers 9,000.00

Leg at or above knee 17,000.00

Leg below knee 12,000.00

One foot 12,000.00

All toes of one foot 5,000.00

Thumb 5,000.00

Index Finger 3,000.00

Sight of One Eye 12,000.00

Hearing - Both Ears 15,000.00

Hearing - One Ear 8,000.00

III Premium Rates

Corresponding to the increased limits of liability, the following schedule of premium rates shall be followed:

1) Non-LTO/Private Cars (PC) & Commercial Vehicles (CV): TPL — P50,000.00

Types of Vehicle

Premium Rates

PC Light P 450.00

PC Medium 490.00

PC Heavy 690.00

2) LTO/Public Utility Vehicles: TPL—P50,000.00, PL—50,000.00

The premium rates shall be based on the area where the public utility vehicle is authorized to operate: whether within or outside the Metro Manila Area.

PREMIUM RATES

Types of Vehicle Metro Manila

Outside Metro Manila

AC P730.00

P920.00

PUJ 890.00

1,110.00

TAXI 880.00

1,100.00

TOUR-CAR 590.00

740.00

MINI-BUS 990.00

1,230.00

PUB 1,160.00

1,450.00

TOUR-BUS 1,180.00

1,450.00

TRICYCLE 210.00

220.00

Metro Manila includes the cities of Manila, Kaloocan, Quezon, Pasay, Muntinlupa, Makati, Mandaluyong, and Pasig; and the following municipalities: Parañaque, Las Piñas, San Juan, Pateros, Taguig, Malabon, Navotas and Valenzuela.

This Circular takes effect on 1 January 1997.

Adopted: 04 Nov. 1996

(Sgd.) EDUARDO T. MALINIS Insurance Commissioner

Approved:

(Sgd.) ROBERTO F. DE OCAMPO Secretary of Finance