LTO waives interconnectivity fees

The Land Transportation Office (LTO), in coordination with the service providers of the interim measure on the purchase of comprehensive third party liability (CTPL) policies, is temporarily waiving interconnectivity fees for the issuance of certificates of cover (COCs) for two weeks.

While the interim CTPL verification system of the Department of Transportation and Communications (DOTC) and the Insurance Commission (IC) has taken effect, LTO chief Reynaldo Berroya said he requested the service providers to waive the interconnectivity fees to give all the concerned agencies and motorists ample time to familiarize themselves with the new interim solution.

Berroya said the service providers of the interim system will start charging interconnectivity fees on Aug. 8.

Berroya said the interim measure and ultimately the final module which the DOTC and IC would implement, would eradicate the rampant sale of fake insurance policies which rob the government of almost P250 million in taxes yearly.