MANILA, Philippines - Sen. Edgardo Angara and Insurance Commissioner Ernesto Malinis will discuss the newly passed Pre-need Code of the Philippines at the Pre-need Forum to be held on Wednesday at Makati Shangrila Hotel from 1 to 5:30 p.m. The Pre-need Forum is one
of the highlights of Pre-need Consciousness week celebrated by the Philippine Federation
of Pre-need Plan companies, Inc. from Jan. 31 to Feb. 6, with the theme “A New Beginning for a Brighter Tomorrow.”
The PFPPCI, an umbrella organization of companies offering memorial life, pension and education plans, is headed by Caesar Michelena, president of Cocoplans, Inc. PFPPCI member companies take turns in spearheading the celebration of Pre-need Consciousness
Week. This year’s lead company is Eternal Plans, Inc., headed by Elmer Lorica as president and chief operating officer.
The Pre-need Code was established with the signing of Republic Act 9829 last Dec. 4 by President Arroyo. RA 9829 consolidates Senate Bill 2077 sponsored primarily by Angara and House Bill 6407 by Manila Rep. Jaime Lopez. The new Pre-need Code provides for stricter regulation of the pre-need industry and the transfer of its supervision from Securities and Exchange Commission (SEC) to the Insurance Commission (IC).
Michelena and other industry leaders hailed the passing of the new law, saying it will lay to rest fears of industry instability because of the collapse of a number of pre-need ompanies in the past few year. Angara, who fought for the passage of the Pre-need Code
in 2009, is expected to talk about issues and concerns affecting the pre-need industry with the enactment of the new law. He will also tackle the highlights of the Pre-need Code of the Philippines and how pre-need companies and plan holders will benefit from its mplementation.