Thursday, October 12, 2006 Victims of vehicular accidents to get P50T under rules: official
INSURANCE companies must pay P50,000 to each public utility vehicle passenger who dies in vehicular accidents, an official of the Land Transportation Franchising and Regulatory Board (LTFRB) yesterday said.
Payments of claims can even be done immediately without the necessity of proving fault or negligence.
LTFRB 7 Legal Officer Jose Douglas Sanson said that his agency will issue or renew a franchise to public transport operators only if their insurance coverage for compulsory third-party liability is issued by either the Philippine Accident Manager’s Inc. (PAMI) or Universal Insurance for Transport Accident Solutions (UNITRANS).
Memorandum
The two groups are consortiums of insurance companies with PAMI headed by UCPB General Insurance Co. and UNITRANS led by Stronghold Insurance Company Inc.
Sanson said that a memorandum on the matter was issued by LTFRB Chairperson Ma. Elena Bautista last April 5.
The memo pegs the maximum death benefit coverage of P50,000 per victim. Medical reimbursement of P12,500 per victim can also be availed of. These cover pedestrians and motorists.
The rule also covers unauthorized drivers who have expired or no driver’s license, force majeure, driver’s/operator’s and household manners, operating out-of-line, unprovoked murder and assault arising from the accident and acts of terrorism.
The memorandum also requires insurance companies to provide “on-site emergency accident assistance with a 24-hour and seven days a week telephone hotline.”
“In case of accidents, the concerned insurance companies shall dispatch ambulances with medical staff to the scene of the accident with an estimated turn-around period of one hour, notwithstanding the location. Emergency hospital admission shall also be provided with a guarantee set at maximum insurance coverage limit, including mortuary referral upon request, should the victim expire during medical treatment,” read the memorandum.
Better policy
Sanson said that this is a better policy because payments of claims must be made within five working days upon submission of police report, death certificate and/or medical certificate, identification of beneficiaries, and original receipts including medical prescriptions.
Richard Cabucos, the chairman of Metro Cebu Taxi Operators Association (MCTOA) criticized the scheme because the insurance companies will not accept a package that will include claims for damage to vehicles.
“We are forced to pay premium for damage to property which is already an additional burden on the operators,” Cabucos said. (EOB)
