Page 22 - OPA 2014

Outstanding Professional Award 2014

Commissioner Dooc during a consultation hearing on the proposed rehabilitation plan of Prudentialife Plans, Inc.

minimum net worth to Php1.3 Billion in 2022 with scheduled industry, introduced other much needed reforms to grow the
gradual increases every 3 years between 2012 and 2022. industry without sacrificing the interests of the insuring public.

The recent years also saw mergers and consolidation With his appointment, Commissioner Dooc and his team
of smaller companies as well as voluntary and involuntary have already formulated the banner program for the coming
cancellation of licenses. Under Commissioner Dooc’s leadership, years. They include the review and rationalization of the tax
the Insurance Commission was reorganized to further streamline structure for the non-life sector, eventual transfer of the health
its operations and make IC an efficient and effective regulator. maintenance organizations (HMOs) from the Department
Three (3) additional Deputy Commissioners were appointed of Health (DOH) to the IC, capacity building of the regulator,
and the total number of headcounts at the IC was significantly expansion of Microinsurance program, promotion of financial
increased to enable IC to discharge its functions, particularly inclusion, development of disaster insurance, crop insurance,
the additional responsibility of supervising the pre-need health insurance and effective implementation of the amended
industry following its transfer from the Securities and Exchange Insurance Code, among others, to better serve the insuring
Commission (SEC) to the IC. The IC, with the support of the public and the industry.

Commissioner Dooc (2nd from left) joining hands with the Department of Finance – National Credit Council (DOF-NCC) and German International
Cooperation (GIZ) to sustain the push for microinsurance in the Philippines.

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