Insurance and the OFW
Republic Act (RA) 10022 passed into law on March 8, 2010. This Act, amending RA 8042, otherwise known as the Migrant Workers and Overseas Filipinos Act of 1995, as amended, is geared towards further improving the standard of protection and promotion of the welfare of migrant workers, their families and overseas Filipinos in distress and for other purposes.
Section 37-A Compulsory Insurance Coverage for Agency Hired Workers is the portion of RA 10022 that deals specifically with the requirement for each migrant worker deployed by recruitment or manning agencies to be covered by a compulsory insurance policy that shall be secured at no cost to the worker.
Paramount Life & General Insurance Corporation (PLGIC) is the first insurance company accredited by the Insurance Commission to provide this OFW insurance.