Endorsement of Support to the Society of Independent Insurance Intermediaries Philippines, Inc. (Triple I)
Insurance Circular Letter No. 047-17 • Other Rules and Procedures • Insurance Commission • Sep 15, 2017
Full text
September 15, 2017 INSURANCE CIRCULAR LETTER NO. 047-17 TO : All Non-Life Insurance Companies and Their Agents SUBJECT : Endorsement of Support to the Society of Independent Insurance Intermediaries Philippines, Inc. (Triple I) WHEREAS , Section 374 of the Insurance Code, as amended by R.A. 10607 states that "the Commissioner, in consultation with the duly accredited associations representing the insurance industry, shall adopt and promulgate a code of conduct to promote integrity, honesty and ethical business practices among insurance agents, distributors and other intermediaries"; WHEREAS , this Commission notes that the Society of Independent Insurance Intermediaries Philippines, Inc. (Triple I) is an existing national organization of non-life insurance agents; NOW, WHEREFORE , pursuant to the powers vested in the Insurance Commissioner under Section 437 in relation to Section 374 of the Insurance Code, as amended by R.A. 10607, the Insurance Commission hereby encourages and enjoins all licensed non-life insurance agents to become members of the Triple I and to support its membership, leadership, programs and advocacies. This Circular Letter takes effect immediately. (SGD.) DENNIS B. FUNA Insurance Commissioner
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.