On-Line Uploading of the Requirements for Financial Reporting Framework, Valuation Standards for Insurance Policy Reserves, and New Risk-Based Capital Framework
Insurance Circular Letter No. 038-15 • Other Rules and Procedures • Insurance Commission • Jul 27, 2015
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July 27, 2015 INSURANCE CIRCULAR LETTER NO. 038-15 TO : All Life and Non-Life Insurance and Professional Reinsurance Companies Doing Business in the Philippines SUBJECT : On-Line Uploading of the Requirements for Financial Reporting Framework, Valuation Standards for Insurance Policy Reserves, and New Risk-Based Capital Framework The Insurance Commission (IC) has developed the Online Uploading System , a web-based system where companies can submit the regulatory submission pursuant to Circular Letter No. 2015-31 dated 10 June 2015 re Transition Period and Full implementation Requirements for Financial Reporting Framework, Valuation, Standards for Insurance Policy Reserves and New Risk-Based Capital Framework . In line with this, the following are the guidelines and procedures in accessing the Online Uploading System: 1. The system may be accessed through any of the following web addresses: http://uploading.insurance.gov.ph/templates/ http://61.28.143.137/templates/ 2. All companies were pre-created with individual accounts and folders for Financial Reporting Framework, Actuarial Valuation Report and Risk Based Capital in the system; ASEcHI 3. To activate the pre-created account, each company is required to submit the name/s and corresponding e-mail address/es of their authorized representative/s who will access and conduct the submission/uploading of the requirements; 4. Names of representatives shall be submitted to the IC-Information Technology Division (IC-ITD) on or before 29 July 2015 through the following e-mail addresses: [emailprotected] [emailprotected] [emailprotected] 5. The links for activation together with the user's manual will be sent by e-mail to authorized representatives; ITAaHc 6. A one (1) day orientation for the authorized representatives regarding the system will also be provided by the IC on the following schedules: Non-Life 29 July 2015, 10:00 AM, IT Training Room Life 29 July 2015, 2:00 PM, IT Training Room 7. Attendance to the orientation must be confirmed with the IC-ITD through e-mail at [emailprotected] or via telephone nos. 523-8461 to 70 loc. 107, on or before 28 July 2015 . Please be guided accordingly. (SGD.) EMMANUEL F. DOOC Insurance Commissioner
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