Philippines receives over 13,000 claims from local planholders

More than 5,000 claims were personally filed by planholders.

The Insurance Commission of the Philippines has reported receiving 13,137 claims from planholders of Loyola Plans Consolidated, Inc. (Loyola Plans) between 29 September 2023 and 18 April 2024. 

Of the total claims received, 5,835 were personally filed by planholders before the Insurance Commission, whilst the remaining claims were submitted via email and phone calls.

The submitted claims are currently undergoing evaluation for inclusion in the masterlist of claimants for the liquidation of Loyola Plans. All claims have been forwarded to the appointed liquidator, Atty. Antonio Jonathan G. Jaminola, who assumed the role on 11 April.

ALSO READ: Insurance loyalty rises despite market challenges – Bain & Co.

The evaluation process, expected to take five months, will determine the inclusion of these claims in the masterlist for Loyola Plans' liquidation.

The company was placed under liquidation in September 2023 due to insolvency issues, following earlier periods of conservatorship since July 2019 and receivership since March 2023.