Insurance Commission(IC)

February 13, 2020 Dear MS. Phoenyx Brucelo, Greetings! Thank you for your request dated Jan 24, 2020 03:24 PM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch. You asked for reasons why there is low market penetration in non-life insurance and how many percent it is. We understand that in a telephone call with the Statistics and Research Division you were provided initial discussions about the implications of your inquiry. On market penetration rate for the non-life insurance, data is not available. However, the rate is computed as the number of insurance lives for life companies and mutual benefit associations over population x 100. Moreover, you were likewise advised that it would be better to come over to the IC office for further clarifications on available data you may be able to obtain for purposes of research. 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, Revelyn R. Mojica