Angara, Malinis to talk on new Pre-need Code

MANILA, Philippines - Sen. Edgardo Angara and Insurance Commissioner Ernesto Malinis will discuss the  newly passed Pre-need Code of the Philippines at the Pre-need Forum to be held on Wednesday at Makati Shangrila Hotel from 1 to 5:30 p.m. The Pre-need Forum is one

of the highlights of Pre-need Consciousness week celebrated by the Philippine Federation

of Pre-need Plan companies, Inc. from Jan. 31 to Feb. 6, with the theme “A New  Beginning for a Brighter Tomorrow.”

The PFPPCI, an umbrella organization of companies offering memorial life, pension and  education plans, is headed by Caesar Michelena, president of Cocoplans, Inc. PFPPCI member companies take turns in spearheading the celebration of Pre-need Consciousness

Week. This year’s lead company is Eternal Plans, Inc., headed by Elmer Lorica as president and chief operating officer.

The Pre-need Code was established with the signing of Republic Act 9829 last Dec. 4 by President Arroyo. RA 9829 consolidates Senate Bill 2077 sponsored primarily by Angara and House Bill 6407 by Manila  Rep. Jaime Lopez. The new Pre-need Code provides for  stricter regulation of the pre-need industry and the transfer of its supervision from  Securities and Exchange Commission (SEC) to the Insurance Commission (IC).

Michelena and other industry leaders hailed the passing of the new law, saying it will lay  to rest fears of industry instability because of the collapse of a number of pre-need  ompanies in the past few year. Angara, who fought for the   passage of the Pre-need Code

in 2009, is expected to talk about issues and concerns affecting the pre-need industry with the enactment of the new law. He will also tackle the highlights of the Pre-need Code of the Philippines and how pre-need companies and plan holders will benefit from its  mplementation.