DENR to require mandatory insurance coverage for new projects

To ensure a more effective system of protecting and managing the environment, the Department of Environment and Natural Resources (DENR) will strictly require industries to obtain a mandatory environmental insurance coverage (MEIC) for new projects.

The MEIC, which replaces the environmental guarantee fund (EGF), is a pre-requisite in the issuance of environmental compliance certificate (ECC) which is required by DENR prior to the start of any construction or modification of new and existing industries and projects.

Sixto E. Tolentino, Jr., EMB director of Region 4-A, said "the scheme will provide for an adequate and timely environmental rehabilitation, clean-up, remediation and protection for the affected communities and residents."

Several insurance companies in the country have formed themselves into a group called Environmental Insurance Alliance (EIA) and appointed/designated Stronghold Insurance Co., Inc. as lead writing company for bonds and liability insurance required under the MEIC. The EIA is composed of 61 insurance companies accredited by the DENR to participate in the MEIC.

To intensify dissemination of MEIC, EMB Region 4 has initiated the holding of seminars for pollution control officers. It is being organized in cooperation with Stronghold and First Cavite Industrial Estate (FCEI). It is set to be held on Dec. 12 at the board room, 2nd floor, administration bldg., FCIE in Bgy. Langkaan, Dasmarinas, Cavite.