THE Board of Directors of the Philippine Health Insurance Corporation (PhilHealth) recently approved the procurement of a Directors and Officers Liability Insurance (DOLI) to protect its officers and technical personnel from contingent claims and liabilities that may arise from cases that may be filed against them in the performance of their functions.
The DOLI has a Php50 million coverage from the Government Service Insurance System (GSIS) and will provide indemnity coverage for the protection of 430 officials of PhilHealth, consisting of Board Members, Officers, and other personnel designated as members of the Bids and Awards Committees and its Technical Working Groups in the Central and Regional Offices.
The obligation and authority of Government Owned and Controlled Corporations (GOCCs) covered under Republic Act No. 10149 to provide DOLI for their Governing Board, Officers and other personnel, is contained in Section 31 of the Code of Corporate Governance promulgated by the Governance Commission for GOCCs (GCG) under its Memorandum Circular No. 2012-07.
The DOLI coverage includes expenses that may be incurred in prosecuting cases that may be filed against GOCC personnel in line with their official functions. END
(Reference: Dr. Israel Francis A. Pargas, Head Executive Assistant and Concurrent OIC-Vice President for Corporate Affairs Group, Tel. 0917-8089399)