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PNoy signs into law bill strengthening Insurance Code

President Benigno S. Aquino III accepts the credentials of Sovereign Military Order of Malta (SMOM) Ambassador to the Philippines Her Excellency Odelia Gregorio Arroyo during the Presentation of Credentials at the Music Room of the Malacañan Palace on Tuesday (August 27, 2013). (MNS photo)

President Benigno S. Aquino III accepts the credentials of Sovereign
Military Order of Malta (SMOM) Ambassador to the Philippines Her
Excellency Odelia Gregorio Arroyo during the Presentation of
Credentials at the Music Room of the Malacañan Palace on Tuesday
(August 27, 2013). (MNS photo)

MANILA  (Mabuhay) — President Benigno Aquino III has signed into law a bill seeking to amend the Insurance Code of the Philippines.

During a press briefing on Tuesday, deputy presidential spokesperson Valte said Aquino signed last August 15 Republic Act 10607.

Valte said the formal title of the law is “An Act Strengthening the Insurance Industry Further Amending Presidential Decree No. 612 Otherwise Known as the Insurance Code as Amended by Presidential Decree Nos. 1141, 1280, 1455, 1460, 1814, and 1981 and Batas Pambansa Bilang 874 and for Other Purposes.”

Last February, the Senate passed on third and final reading Senate Bill 3280, which seeks to amend the 38-year-old Insurance Code and make it relevant to the times. (MNS)

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