Application Fees for New and Renewal Accreditation of Actuaries for Insurance/Reinsurance and Pre-Need Companies
Insurance Circular Letter No. 019-16 • Other Rules and Procedures • Insurance Commission • Apr 4, 2016
Full text
April 4, 2016 INSURANCE CIRCULAR LETTER NO. 019-16 Supplements: CL No. 2015-33; CL No. 2015-44 TO : All Applicants for Accreditation as Actuary SUBJECT : Application Fees for New and Renewal Accreditation of Actuaries for Insurance/Reinsurance and Pre-Need Companies Pursuant to the powers vested in the Insurance Commissioner by the provision of Section 437 of R.A. 10607 (New Insurance Code) and Section 6 of R.A. 9829 (Pre-Need Code), it is hereby promulgated that those applying for accreditation as actuaries in more than one insurance industry sector ( i.e. , life, non-life or pre-need) shall be given a fifty percent (50%) discount on the application fees for the succeeding sector/s after having paid in full the accreditation fee for any one sector. The discount shall be given on a per licensing period basis, i.e. , three years for both the life and non-life sectors and one year for the pre-need sector. This Circular takes effect immediately. (SGD.) EMMANUEL F. DOOC Insurance Commissioner
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