LTFRB MEMORANDUM CIRCULAR NO. 2010-035, October 20, 2010

[ LTFRB MEMORANDUM CIRCULAR NO. 2010-035, October 20, 2010 ]

PASSENGER PERSONAL ACCIDENT INSURANCE PROGRAM

After a review of the existing Memorandum of Agreement (MOA) between the Board and the two accredited Insurance Consortia namely: Philippine Accident Managers, Inc. (PAMI) and Universal Transport Accident Solutions, Inc. (UNITRANS), it appears that the same expires on September 16, 2010.

However, to protect the commuting public and in line with its regulatory powers as provided by Section 5 (b) and (k) of Executive Order No. 202, the Board hereby directs the PAMI and UNITRANS to continue performing their functions as accredited Insurance Consortia providing Personal Passenger Accident Insurance (PPAI) Policies to authorized public utility operators on a hold-over capacity in accordance with the Memorandum dated 13 September 2010 of the Secretary of the Department of Transportation and Communications.

Further, all existing PPAI policies shall likewise be recognized by PAMI and UNITRANS until the period of coverage stated in the policies issued.

All other issuances or parts thereof inconsistent herewith are hereby modified, amended, or superseded accordingly.

This Memorandum Circular shall take effect immediately following its publication in a newspaper of general circulation and the filing of three (3) copies hereof with the UP Law Center pursuant to Presidential Memorandum Circular No. 11, dated 09 October 1992.

SO ORDERED.

(SGD.) ATTY. NELSON P. LALUCES Chairman

(SGD) ATTY. MANUEL M. IWAY Board Member

(SGD) ENGR. SAMUEL JULIUS B. GARCIA Board Member