Insurance Commission(IC)

June 30, 2020 Dear Winona Fajardo, Greetings! Thank you for your request dated May 27, 2020 03:54:41 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch. Please note that the Presidential Communications Office (PCOO) suspended the period to resolve FOI requests due to COVID-19, specifically those new requests made from 13 March 2020 and all those that remained pending until the imposition of Enhanced Community Quarantine (ECQ), until such time that ECQ is lifted and work in the Executive branch of government attained normalcy. With PCOO FOI Advisory No. 04, s. 2020, processing requests resumed on 01 June 2020 or when GCQ became effective. You asked for deposit insurance in the Philippines, specifically whether aside from the automatic coverage of all deposit accounts in the Philippines, there is such a thing as a private deposit account insurance policy being offered by private insurance companies. Please note that upon careful search, there is no record of any approval involving a policy covering a private deposit account submitted by insurance company. If you are unhappy with this response to your FOI request, you may ask us to carry out an internal review of the response by writing to [email protected]. Your review request should explain why you are dissatisfied with this response, and should be made within 15 calendar days from the date when you received this letter. We will complete the review and tell you the result within 30 calendar days from the date when we receive your review request. If you are not satisfied with the result of the review, you then have the right to appeal to the Office of the President under Administrative Order No. 22 (s. 2011). Thank you. Respectfully, Tranquilino Espejon FOI Receiving Officer