IC INSURANCE MEMORANDUM CIRCULAR NO. 1-96A, December 27, 1996

ADDENDUM TO INSURANCE MEMORANDUM CIRCULAR NO. 1-96, PRESCRIBING REVISED LIMITS OF LIABILITY, SCHEDULE OF INDEMNITIES AND PREMIUM RATES FOR THE COMPULSORY MOTOR VEHICLE LIABILITY…

National Administrative Register December 27, 1996
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The following addendum is hereby issued to form part of Insurance Memorandum Circular 1-96 approved on 17 December 1996.

1.                  Item 1 of Part III — Premium rates include:

Types of Vehicles
Premium Rates
Commercial Vehicles
a. Carrying own goods
Light
490.00
Medium
690.00
Heavy
960.00
b. For Hire
Light
610.00
Medium
860.00
Heavy
1,100.00
Motorcycles
180.00

2.         The enumeration of cities and municipalities comprising Metro Manila Area includes Marikina City.

3.         The revised limits apply to all policies with inception dates of 1 January 1997 onwards.

Adopted: 27 Dec. 1996

(Sgd.) EDUARDO T. MALINIS
Insurance Commissioner

Approved:

(Sgd.) ROBERTO F. DE OCAMPO
Secretary of Finance

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