Transport groups urge LTFRB to suspend insurance consortium

MANILA, Philippines - Public transport groups yesterday urged the Land Transportation Franchising and Regulatory Board (LTFRB) and the Insurance Commission to suspend the operation of a consortium of insurance firms and stop it from selling passenger personal accident insurance (PPAI) policies.

The transport groups said P9.35 million worth of policy forms were stolen from the Universal Insurance Transport Accident Agency Solutions (Unitrans) consortium and this incident is to blame for the recent cases of unpaid or unrecognized PPAI claims of victims of road mishaps involving public utility jeepneys and buses.

Unitrans is a consortium of non-life insurance companies that sells PPAI and third-party liability policies and facilitates claims for accidents involving passenger vehicles.

Pagkakaisa ng Samahan ng mga Tsuper at Opereytor Nationwide (Piston) secretary general George San Mateo urged LTFRB director Alberto Suansing and Insurance Commissioner Eduardo Malinis to compel Unitrans to divulge the policy numbers of the stolen forms.

Last week, the National Bureau of Investigation filed qualified theft cases before the Pasig City Prosecutor’s Office against three employees of Unitrans for allegedly stealing P9,350,740 worth of insurance policy forms.

San Mateo said the theft could result in confusion for about 9,000 policy holders as it is still unclear if Unitrans will honor their policies. 

Suansing said that Unitrans should have reported immediately the serial numbers of the missing policy forms to warn public transport utility owners.

Federation of Jeepney Operator and Drivers Association of the Philippines president Zenaida Maranan said the most rational move for Suansing and Malinis is to suspend the license of Unitrans.