60-day debt moratorium backed
MANILA, Philippines — Business groups lauded the compromise both houses of Congress reached on the moratorium on debt payments to ease the difficulties of Filipinos during the COVID-19 quarantine in many parts of the country. Francis Lim, president of the influential Management Association of the Philiplines (MAP), said over the weekend that the 60-day freeze […]
IC sees ‘financial danger’ in 1-yr freeze in payments
The Insurance Commission (IC) thumbed down the proposed yearlong grace period on life insurance and pre-need premium payments under the Bayanihan 2 bill, saying this may spell “financial danger to life insurance and pre-need companies.” In a letter dated August 12 addressed to members of the Bicameral Conference Committee of Congress, IC Commissioner Dennis B. […]
