(Eagle News)–Operators of public utility vehicles are free to choose their insurance providers.
In a statement, LTFRB Chairman Teofilo Guadiz III said this was in compliance with Section 3 of Department Order (DO) 2018-020 or the Revised Guidelines on Mandatory Insurance Policies for Motor Vehicles and Personal Passenger Accident Insurance (PPAI) for Public Utility Vehicles.
The provision states that “applicants are free to choose and secure the Insurance Policies from any of the Qualified Insurers and all insurance premiums shall be strictly paid in the offices or authorized collection sites of the Qualified Insurers.”
He said for Personal Passenger Accident Insurance (PPAI) and Third-Party Liability (TPL) insurance policies, providers duly accredited by the Insurance Commission shall be accepted.
He also clarified the LTFRB was not looking to increase the number of insurance companies operators can choose from.
He noted that only the Insurance Commission could accredit insurance providers.
