Insurance Commission's Guidelines on Provision of Relief During the State of National Energy Emergency
Summary
On May 13, 2026, the Insurance Commission (IC), through Circular Letter (CL) No. 2026‑11, directed IC‑regulated entities (ICREs) to implement relief measures for policyholders, planholders, members, and the public during the State of National Energy Emergency. The Circular aims to alleviate financial strain, prevent unintended lapses, and ensure continuity of insurance and health coverage amid rising costs driven by global energy disruptions.
Key Relief Measures
All IC-regulated entities (ICREs) such as insurance companies, mutual benefit associations (MBAs), pre-need companies, and health maintenance organizations (HMOs), including their respective agents, and covers policyholders, planholders, and HMO members are directed to adopt the following relief measures:
ICREs are required to submit an initial report on all relief measures adopted on or before May 31, 2026, and provide periodic updates thereafter.
The above relief measures take effect immediately upon issuance of the Circular and remains applicable for the duration of the State of National Energy Emergency.
Role of Agents
Insurance agents are expected to play a critical role in implementing the relief measures, including:
- Proactively informing policyholders of available relief options
- Providing fair and accurate advice on coverage, benefits, and policy status
- Facilitating claims processing and documentation
- Supporting digital servicing and regulatory initiatives
Agents must act in the best interest of policyholders and ensure clear, complete, and compliant communication at all times.
References
This Accounting Alert provides only a high‑level overview of the regulatory updates. For complete and authoritative guidance, readers are encouraged to review the full Circular Letter issued by the Insurance Commission below.
To explore additional Insurance Commission Circulars referenced in this alert or to access related regulatory issuances, you may also visit www.insurance.gov.ph for more comprehensive guidance.
