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The Professional Regulation Commission (PRC; Filipino: Komisyon sa Regulasyong Pampropesyonal [2]) is a three-man commission attached to Department of Labor and Employment (DOLE).
The OIC is responsible for the issue of operating licenses for insurance companies and operational adherence to regulations through market supervision. Ensuring insurers adhere to capital adequacy requirements is an important aspect of the ongoing market supervision role of the OIC.
The commission was founded in 1900 [2] through Act No. 5 of the Philippine Commission and was made a bureau in 1905. [3] The Civil Service Commission (CSC) is the central personnel agency of the Philippine government responsible for the policies, plans, and programs concerning all civil service employees.
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
The Commission on Appointments confirms certain appointments made by the President of the Philippines.Article VII, Section 16 of the 1987 Constitution reads: "The President shall nominate and, with the consent of the Commission on Appointments, appoint the heads of the executive departments, ambassadors, other public ministers and consuls, or officers of the armed forces from the rank of ...
Clement Cheung Wan-ching GBS JP (Chinese: 張雲正, born 17 November 1961) has been the chief executive officer of the Insurance Authority since August 2018.He is a member of the executive committee of the International Association of Insurance Supervisors and chair of its Audit and Risk Committee, as well as chairman of the Asian Forum of Insurance Regulators.
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The order of precedence in the Philippines is the protocol used in ranking government officials and other personages in the Philippines. [1] Purely ceremonial in nature, it has no legal standing, and does not reflect the presidential line of succession nor the equal status of the three branches of government established in the 1987 Constitution.