Insurance Commission issues IRR for Rep. Act No. 11765
Through Insurance Memorandum Circular No. 2023-01, the Insurance Commission promulgated the Implementing Rules and Regulations (IRR) of Republic Act No. 11765 or the “Financial Products and Services Consumer Protection Act.”
The memorandum circular explains that the IRR was issued, adopted, and promulgated by the Commission “pursuant to its mandate to safeguard the rights and interests of the insuring public” and to carry out effectively the provisions of the law.
The IRR was published in the Philippine Star on March 12, 2023.
You may read the Rules in full here.