| |
| The
Paramount Passenger Personal Accident Insurance for Public Utility
Vehicles is designed to provide public utility vehicles
with sufficient insurance coverage to protect the riding public.
This program of cover is available at a reasonable price for
the benefit of the riding public. |
| |
| The insurance for
passengers of Public Utility Vehicles (PUV) started in 1990
when various accidents happened and difficulty in payment of
hospitalization claims and death benefits for passengers came
about. In March 1992, Department Order No. 92-587 had taken
its position that all PUVs must have sufficient insurance coverage
to protect the riding public before a franchise can be issued
to any operator. |
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| COVERAGE |
| |
- Ps. 50,000.00 Per passenger in case of accidental death
- Ps. 50,000.00 Per passenger in case of loss of two or
more limbs
- Ps. 50,000,00 Per passenger in case of total and irrecoverable
loss of sight of both eyes
- Ps. 25,000.00 Per passenger in case of dismemberment
in one limb
- Ps. 25,000.00 Per passenger in case of total and irrecoverable
loss of sight in one eye
- Ps. 12,000.00 Per passenger for medical treatment
|
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| WHAT
IS PHILIPPINE ACCIDENT MANAGERS, INC. (PAMI)? |
| |
| PAMI is an independent
company organized to administer and manage all activities involved
in providing a personal accident insurance cover to all PUV
for all the member insurance companies of the consortium. It
has been tasked by the consortium to do this program in order
that the implementation of issuance of policy, collecting, payment
of claims will be done in each region where LTFRB has offices
in which case a professional group will take care of all the
needs of PUV operators. |
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| WHY
DO I CHOOSE PAMI? |
| |
 |
It
has offices nationwide. |
|
It has a clear
and simple system in settling claims. |
|
It has authority
to the Branches to settle claims. |
|
It is backed
up by at least 23 reputable insurance companies. |
|
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| OVERALL
CONCEPT |
| |
| Twenty three (23)
reputable insurance companies including Paramount
Life & General Insurance Corporation have entered
into an agreement with PAMI not to issue separate policy as
they have appointed PAMI as their sole representative. These
insurance companies have elected UCPB General Insurance to write
a Master Policy for PUVs for and in behalf of the consortium
that in turn re-insures to all in the consortium and spread
the risk. The consortium agreed to this program for a very low
premium for as long as the revenues will be collected under
this master policy. |
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