(NAR) VOL. 25 NO. 1 / JANUARY - MARCH 2014
The accreditation criteria and the Code of Conduct set forth under this Circular shall supplement the Guidelines in the Implementation of ADReM developed by the Technical Working Group (TWG) led by the Department of Finance-National Credit Council and the Insurance Commission, including representatives from Philippine Insurers and Reinsurers Association (PIRA), Philippine Life Insurers Association (PLIA), Philippine Mutual Benefit Association Inc. (PhilMBAI), Cooperative Insurance System of the Philippines (CISP), Microfinance Council of the Philippines, Inc. (MCPI), Rural Bankers Association of the Philippines (RBAP), Society of Independent Insurance Intermediaries Association of the Philippines (Triple I), Life Underwriters Association of the Philippines (LUAP), MicroEnsure Insurance Brokers Philippines Inc., and German International Cooperation-Regulatory Framework Promotion of Pro-poor Insurance Markets in Asia (GIZ-RFPI Asia).
Section 1. Definition of Terms
Basic Mediation-Conciliation Training – training course on basic concepts and skills on mediation and conciliation of disputes including the appropriate conduct of mediation-conciliation processes. This should also include a module on the specific process and standards adopted for ADReM as provided for in the ADR Framework on Microinsurance and the various circulars issued by the IC.
Basic Microinsurance Training - seminar that describes the concept of risk protection, risk transfer mechanisms for the low income sector. The seminar includes modules on the following: Basic Concepts of Microinsurance, National Strategy on Microinsurance, Regulatory Framework on Microinsurance, Roadmap to Financial Literacy on Microinsurance and specific circulars on Microinsurance issued by the IC. This should include a module on specific process and standards adopted for ADReM as provided in the ADR Framework and Microinsurance and the various circulars issued by the IC.
Training Provider - an institution or individual accredited by lC to conduct trainings/seminars on Basic Microinsurance and ADReM.
Section 2. Accreditation Requirements - the ADReM mediators-conciliators shall have the following minimum qualifications:
Section 3. Accreditation Procedures
Section 4. Code of Conduct - The accredited mediators-conciliators must abide by the Code of Conduct as provided for in Annex B*
Section 5. Termination/Revocation/Cancellation of Accreditation – The Insurance Commission reserves the right to terminate, revoke or cancel the accreditation whenever there is non-compliance or breach of the terms of the accreditation and the Code of Conduct.
This circular shall take effect immediately.
(SGD) EMMANUEL F. DOOC
Insurance Commissioner