On Jul. 15, PHI INS mandated registry of licensed non-life insurance agents.
PHI INS issued circular letter mandating all non-life insurance companies to establish and publish a registry of licensed non-life insurance agents.
The circular extends to non-life insurers similar requirements previously set under CL No. 2024-10 for life insurers, to support consumer protection and transparency under the Financial Products and Services Consumer Protection Act (FCPA).
Follows PHI INS Apr. 2024 issued rules on forming a registry of agents, see #208578.
Document dated Jul. 15, 2026, received from PHI INS Jul. 21, summarized Jul. 23.
Registry Requirements
Companies must build the registry through the PHI INS enhanced licensing system (ELS) and publish it on their websites, updated on the last working day of every month.
For natural persons, required fields are: full name, license number, validity period, and cancellation remarks; juridical persons must also include soliciting officials' names.
Companies bear responsibility for accuracy of ELS submissions, timely status updates, and must provide a consumer hotline for agent verification requests.
Non-compliance may result in fines or suspension of business license after due process.
Effectiveness
The circular letter shall be effective immediately, i.e. on Jul. 15, 2026.
Insurance companies are given a period of three months following the effectivity of the circular letter (i.e, until Oct. 15, 2026) to establish and publish the Registry of licensed non-life insurance agents on their respective websites.
Regulators
PHI INS
Entity Types
CNSM; IB; Ins
Reference
Cir Lt No. 2026-13, 7/15/2026
Functions
Compliance; Record Retention; Registration/Licensing; Reporting
