Philippine senator seeks to include HMOs in insurance code
He also wants the Insurance Commission to be placed under the central bank.
A Philippine senator has filed a bill looking to amend the country’s Insurance Code, and place the Insurance Commission (IC) under the Bangko Sentral ng Pilipinas (BSP), according to local media reports.
Through Senate Bill No. 2133, Senator Christopher Lawrence Go wants to include health maintenance organisations (HMOs) into the Insurance Code’s coverage, therefore allowing the IC to provide tighter supervision.
Under the bill, HMOs will be subject to the code’s provisions, including giving the IC powers to issue cease and desist orders.
Whilst HMOs are covered by the IC, it is still unclear if the code’s provisions apply to them.