Your most commonly asked questions answered
What is Cocogen HackGuard?
Why do I need Personal Cyber Insurance?
What does Cocogen HackGuard cover?
What does Electronic Fund Transfer Fraud cover?
My credit card provider will reimburse me for fraudulent purchases.
If fraudsters steal funds from me, won’t my bank arrange reimbursement?
What does Online Retail Fraud cover?
What is Non-Delivery?
What is an Online Merchant?
Do you also reimburse the delivery charges?
What does Identity Theft cover?
My data is already compromised from a historic data breach.
What does Cyber Bullying cover?
Are there any policy exclusions?
How do I make a claim?
Why do I need pet insurance?
What is Pet Purtect?
How many pets are covered in the package?
If the pet owner has more than three pets and want to insure all of them under the same policy, they can send a request to extend the coverage to other pets subject to underwriting approval.
Are there limits per incident, per year, or per body?
Can we insure other pets aside from dogs and cats?
What are the covered illnesses for my pet? Are pre-existing conditions covered?
Do you cover wellness or preventive care. e.g. immunization, dental care, heartworm testing?
Is there an age limit for the pets? How about the pet owner?
The age limit of the pet owners is based on the standard personal accident insurance requirements which is from 18 to 65 years old, renewable up to the age of 70.
What happens to coverage and premiums if my pet gets older? Will it increase?
Do you cover legal fees? My pet died due to malpractice of the veterinary and I want to sue the person, clinic or company.
Will the insurance cover any medical cost such as an anti-rabies injection if my dog/cat bit a stranger? How about the cost of metal implants in case of bone fracture to the victim?
My other pets/other animals attacked my pet. Will the insurance cover the cost of treatment/hospitalization? Is this considered an accidental injury?
My pet ingested a chemical substance or poisonous object. Will the insurance cover the treatment/hospitalization cost?
Are my family members covered too if they were involved in an accident caused by my pet?
Is pet microchip/RFID required for pet insurance?
Is it possible to have a special acceptance for applicants, e.g. more than 60 years of age or lost more than 10 kilos in 6 months?
Do you have a list of Major and Minor cancers in layman's terms?
Am I still eligible for Cancer Assist Plus if I had a prior diagnosis of a benign tumor/cyst/growth?
Can I still qualify for Cancer Assist Plus if I had a parent who died of cancer at age 65?
Then you are still eligible for Cancer Assist Plus.
Should a covered family member die of cancer while the policy is in force, can the remaining family members still renew their Cancer Assist Plus policies?
What if an applicant lost 10 kilos due to a diet? Will they be disqualified from getting Cancer Assist Plus?
What if there were false information provided in the application form?
Should the insured fill up a new form to renew their policy?
If the insured gets diagnosed with cancer for the first time on the final day of their coverage period, can they still renew their policy? How will the waiting and survival periods be observed?
If the Family Members (parents, son, daughter) availed their individual policies effective 1st Jan 2020 - 1st Jan 2021. If one of the parents was first diagnosed with cancer (major or minor) on 31st December 2020 and survives after the survival period, will other family members still renew their policies?
Can an insured increase their Sum Insured in the middle of the policy year?
Are proposed insureds who undergo gender reassignment still qualified to get Cancer Assist Plus?
Can the insured file a claim for more than 1 minor cancer during their coverage?
Are we going to pay for the surgery prior to the diagnosis, since the surgery comes before the actual diagnosis?
How would the settlement go in case of a claim? Will it be paid in a lump sum once a diagnosis of major/minor cancer has been made?
What would happen if a proposed insured answered YES to the following questions: Have you ever had, or been told that, or are under current investigation for cancer, tumor, growth, or carcinoma in situ of any kind? Do you have any immediate family member/s (i.e. parents or siblings) who have been diagnosed with, or died because of cancer before the age of 60? Have any of your applications for insurance been refused, loaded with extra premium, or applied with additional conditions or additional exclusions by an insurer because of cancer? Have you lost more than 10kg in the last 6 months?
Is there a change in premium every year?
Can we cancel our Cancer Assist Plus policy after the Free-Look Period?
The insured was diagnosed with Major/Minor cancer. However, the diagnosis fell within the Waiting Period which makes the claim deniable. Can the insured still cancel their policy? If not can they still continue and renew their policy?
Is it possible to do away with the pre-existing clause since the policy requires a waiting period of 180 days?
How do I reach a Cocogen representative for quotation/issuance/renewal/claim/other inquiries?
- Your Agent/Broker
- Cocogen Client Services (email - client_services@cocogen.com);
- Call us at (02) 8-830-6000
- Chat via Website (www.cocogen.com)
- Any Cocogen branch near you
- Facebook Messenger – search “Cocogen”
How can I get updates about new products and advisories?
Our updates are posted on our social media channels! Here’s how to find us::
- Facebook – @cocogenofficial
- Twitter - @cocogenofficial
- Instagram - @cocogenofficial
What is Bancassurance?
Bancassurance is a partnership between a bank and an insurance company which enables the insurance company to sell its products through its partnering bank.
Who is the partnering bank?
Our partner bank is UCPB (United Coconut Planters Bank).
What to do in case of a Loss?
Client Services – (02) 8830-6000 / client_services@cocogen.com
Your nearest Cocogen branch
Your Cocogen agent/broker
Once the requirements have been completed, submit via the following
Cocogen Head Office
Your nearest Cocogen branch (walk-in or via email)
Your Cocogen agent/broker
Through your nearest Gawa Agad shop (for motor claims)
Follow-ups may be done by contacting the following:
- Client Services landline: (02) 8830-6000
- Your nearest Cocogen branch
- Your Cocogen agent/broker/li>
- Message via our Facebook page [https://www.facebook.com/COCOGEN]
What is the turnaround time for claims procedures?
How do I pay my insurance premiums through the Cocogen website?
2. Fill out the required information on the form.
3. If paying for more than one (1) policy, you may select the add icon (+) beside the “Amount” field.
4. Select “Pay now”.
5. You will be redirected to the Dragonpay payment page.
6. The available payment options on Dragonpay are Credit Card, Online Banking, and GCash. Select your desired payment method.
7. Follow the instructions provided by your preferred payment channel.
8. Once payment is confirmed, an email will be sent to your registered email containing payment confirmation from Dragonpay and Cocogen.
Can I pay using my credit card?
We accept all major credit cards from Visa, MasterCard, American Express, Union Pay and JCB.
Credit card payments are accepted at the Cocogen Head Office and the following branches: Alabang, Angeles, Bacolod, Batangas, Binan, Bulacan, Cabanatuan, Cagayan de Oro, Cebu, Dagupan, Davao, General Santos, Iloilo, Legaspi, Lucena, Makati, Manila, Marikina, Naga, Olongapo, Quezon City, and Vigan.
Which online banking websites can I use to pay my premiums?
UCPB Bills Payment
1. Go to UCPB Connect and log in to your UCPB account.
2. Under “Payments”, select “Enroll Biller”. If you have already completed this process before, you may skip to step number 5
3. Starting with “Biller”, select “COCOGEN INSURANCE, INC.”, then enter the following details:
- Billing Account Number - Policy Number
- Billing Account Name - Assured Name
4. Click “Add New” to proceed.
5. Select “Generate Transaction Password”.
6. Choose between SMS or Email where you would want your transaction password message sent. Then press “Generate”.
7. Retrieve the transaction password sent through your selected mode of messaging.
8. Go to "Pay Bills".
9. Select COCOGEN INSURANCE, INC. as the biller, and input your Policy Number for “Billing Account Number”.
10. Provide the remaining information required, including the transaction password retrieved earlier. Click “Submit” to proceed.
11. Review the transaction and press confirm to complete the transaction.
BDO Bills Payment
1. Go to BDO's site and log in to your BDO account.
2. Make sure that COCOGEN INSURANCE, INC. is enrolled as a biller. If you haven't done this yet, click "Enrollment" on the left panel and select “Company/Biller”.
3. Click "Enroll" and enter the details requested. Please note that the “Subscriber Number” is your Policy Number.
4. After enrollment, select "Pay Bills and Reload" on the left panel, then click on "Bills Payment"
5. Select "Pay Bills".
6. Choose the BDO account you will be using to pay your premium. Select COCOGEN INSURANCE, INC. as the Company/Biller.
7. Tip: If biller is not yet enrolled, you may enter your Policy Number as the "Subscriber Number" and the Insured Name as the "Subscriber Name".
8.Click "Submit" to proceed with your payment transaction.
Do you accept payments through mobile banking applications?
UCPB Mobile App
1. Log in to your UCPB mobile app.
2. Select “Pay Bills”.
3. Select COCOGEN INSURANCE, INC. under the "Insurance" tab.
4. For “From Account”, select the desired UCPB Account which will be used to pay.
5. Enter your Policy Number in the “Subscriber Number” and “Reference Number” and the Policyholder’s Name in the “Subscriber Name” field.
6. Enter the amount due for payment and select “Done”.
7. Review all the details entered carefully. Tap “OK” to complete your payment transaction.
BDO Mobile App
1. Log in to your BDO mobile app.
2. Make sure that COCOGEN INSURANCE, INC. is enrolled as a biller. If not, tap “More” on the lower right-hand corner of the screen.
3. Tap "Enrollment Services" and select "Enroll Company/Biller".
4. Select “COCOGEN INSURANCE, INC.”. You may use the search field or scroll through the list.
5. Enter your details and tap "Continue” to enroll biller. Please note that the “Subscriber Number” is your Policy Number.
6. Once biller is added, tap “Pay Bills” on the selection below.
7. Select “Pay Bills” under “Pay Bills using Deposit Account”.
8. Tap “Pay From” and select the account you will be using to pay.
9. Tap “Pay this Company/Biller” and select COCOGEN INSURANCE, INC.
10. Selecting “Payment Schedule” will allow you to choose whether the payment is to be done Immediately, on a Later Date, or on a Regular Schedule Date. Once you’ve decided on your desired payment schedule tap “Continue”.
11. Enter the Amount due for payment. Please don’t forget to enter your Policy Number and Insured’s Name in the Remarks field.
12. Tap "Continue” and review all the details carefully. Select “Confirm” to process the payment.
Are there charges for online and mobile payment transactions?
BDO Account Holders
Online and mobile banking is free of charge.
UCPB Account Holders
Online banking is free of charge.
Mobile banking fee is Php2.50 for every successful payment. This fee is on top of the regular SMS fee charged by the client’s respective mobile networks.
How do I know if my payment transaction was successful when using online or mobile payment methods?
How do I make over-the-counter payments?
UCPB Bills Payment
View UCPB's website for the list of branches that you can visit for over-the-counter payment transactions.
1. Get a copy of the UCPB Payment Slip (yellow slip).
2. Fill out the necessary details:
- Payment for: COCOGEN INSURANCE, INC.
- Subscriber Account Number: Policy Number
- Payor’s Name: Assured Name
- Contact No.: Contact details
3. Submit the payment slip to the teller.
BDO Bills Payment
View BDO's website for the list of branches that you can visit for over-the-counter payment transactions.
1. Get a copy of the BDO Transaction Slip. You may select to pay in Cash (blue slip) or Check (yellow slip)
2. Fill out the necessary details:
- Payment for: COCOGEN INSURANCE, INC.
- Subscriber Account Number: Policy Number
- Payor’s Name: Assured Name
- Contact No.: Contact details
3. Submit the payment slip to the teller.
Can I make payments via bank transfer?
1. Log in to your online banking account.
2. Select Interbank fund transfer to PesoNet.
3. Provide the information required by your bank.
4. On beneficiary information, place the following details:
- Bank: UCPB
- Account Number: 100010161732
- Account Name: COCOGEN INSURANCE, INC.
- Address: 22F One Corporate Center, Doña Julia Vargas Ave., cor. Meralco Ave. Ortigas Center, Pasig City 1600
- Mobile Number: 09178614921
- Email Address: payment_facilities@cocogen.com
- Message: Place your Policy Number and Assured Number.
5. Select “Submit”.
6. Depending on your bank, you may be required to re-enter your password.
7. You will receive an email confirmation from your bank confirming your transfer.
For InstaPay
1. Log in to your online banking account.
2. Select Interbank fund transfer to InstaPay.
3. Provide the information required by your bank.
4. On beneficiary information, place the following details:
- Bank: UCPB
- Account Number: 100010161732
- Account Name: COCOGEN INSURANCE, INC.
- Mobile Number: 09178614921
- Email Address: payment_facilities@cocogen.com
- Message: Place your policy number and assured number
5. Press "Submit".
6. Depending on your bank, you may be required to re-enter your password.
7. You will receive an email confirmation from your bank confirming your transfer.
What is ePolicy and how does it work?
Once a Cocogen insurance policy has been processed, the insured person can view his/her policy record through the ePolicy webpage. An email message containing the ePolicy sign-up link as well as a temporary password will be sent to the insured.
What if the client did not provide the email address?
A request to provide the insured's email address will be received by the issuing branch through e-mail. If no e-mail address is provided within 24 hours, the branch must print a copy and deliver the policy to the insured.
How do we know whose policies are for printing and delivery?
A summary of E-Delivery transactions is available in the IT Report System and must be checked and monitored by the processor every 3pm. The report contains the list of insureds who requested for the hard copy, who did not access the link and whose email was directed to the branch.
Can I still request for a printed copy of my insurance policy
Yes. Kindly notify your Cocogen contact (agent, broker, client services or sales representative) of your request. Please indicate your preferred mailing address, contact number and date of delivery (please give 1-2 day buffer). Alternatively, just tick the specific policy for printng under the “Policy” window. Once you’ve chosen your policies, click “Request for a hard copy.
How soon can the insured receive the policy?
After 24 hrs. upon the policy is issued, the insured will be notified via email that the policy has been issued.
How can the insured update/correct his/her personal information?
Click “My Account” on the upper right. On the dashboard, click on the pencil icon on the upper right corners of the boxes in order to edit the fields of the boxes. Once you’re done editing, click “Save”.
Can the Account Associate update/correct the personal information of the insured?
Yes. The Account Associate may update/correct the personal information through Insureds Maintenance in the GenIIsys.
How do I access my ePolicy Account?
Click on the “Sign in” button on the upper right corner of this window and fill in the required fields.
How do I change my photo?
Click “My Account” on the upper right. Click “Change Photo” and select your new photo.
How do I view my policies?
Click “My Account” on the upper right. Click “Policies” on the left side column.
I can’t log-in, what do I do?
On the log-in pop-up, click “Forgot Password” under the “Sign In” button and enter your E-mail address in the next window.
How do I view/download/print my policy schedule and invoice?
For Agents: How can I access my reports?
What is COVID-19 Assist+?
COVID-19 Assist+ is also a personal accident insurance that provides cash benefits to the Insured and their beneficiaries in case of accidental death, disablement, and injuries sustained anywhere in the world.
Who can avail of the product?
How can I avail of the product?
Can I buy COVID-19 Assist+ online?
Do we need to submit a Swab Test Result upon application?
Can I buy the package for my relatives and friends?
How long is the validity of the insurance?
What is the maximum coverage I can get for this product?
Is there a Waiting Period before the coverage takes effect?
Accidental Death and Disablement, Burial Benefit for Accidental Death and Daily Hospital Benefit for accidental causes are effective after purchase.
If I renew my coverage, will the 14-day Waiting Period still apply?
It is advisable to renew your coverage before it expires to maximize the benefit of the product.
In case of death at the time of hospital confinement due to COVID-19, can the insured get the Daily Hospital Benefit for the days confined in addition to the Cash Assistance Benefit from the death caused by COVID-19?
Are deaths due to illness other than COVID-19 covered under death benefit due to Other Causes?
A pre-existing condition is an injury, illness or disease that affects the insured before the effectivity of the initial year or reinstatement date whichever is later.
An injury, illness or disease is considered to be a pre-existing condition if:
a. A professional medical advice or treatment was obtained by the insured for such injury, illness or disease before the effectivity of the initial year or reinstatement date whichever is later.
b. Such injury, illness or disease has been by its nature, manifestations and conditions evident to the insured before the effectivity of the initial year of insurance or reinstatement date whichever is later.
c. The onset and pathogenesis can be clinically determined to have started prior to the effectivity of the initial year or reinstatement date whichever is later.
Who are the qualified beneficiaries?
Is COVID-19 cash assistance on top of the death benefit for Other Causes?
If I have an existing Personal Accident policy, can this be availed as an additional coverage to the existing policy?
Are there excluded areas especially in areas with high cases of COVID-19?
Does Daily Hospital benefit cover hospitalization due to illness other than COVID-19?
Is Daily Hospital Benefit applicable to home quarantine and quarantine facilities?
If I recover from COVID-19, can I still avail of the product? Are there any required documents for application, e.g. Swab Test Result?
If I availed of the product, diagnosed with COVID-19, claimed the Daily Hospital Benefit then eventually recovered, can I still avail a new coverage?
What are the requirements in filing a claim?
Claims must be reported to Cocogen not later than 30 days from the time of confirmation that Insured is COVID 19 positive. For Daily Hospital Benefit, it should be reported to Cocogen 30 days from the last day of confinement. For Cash Assistance, it should be reported to Cocogen 30 days from the date of death.
What is Pro-Tech Computer Insurance?
Why do I need computer insurance?
These devices are prone to loss, damage, or even theft. To minimize inconvenience and downtime, Pro-Tech is important to ensure that funds are available to repair, replace, or buy a new unit.
Are mobile phones, smartphones or tablets covered? What type of devices can be insured?
Do you accept brand new devices only? If not, is there an age requirement for the device to be insured?
Are desktop computers and laptops used for work-from-home set up and online classes only the units that can be insured?
Since laptops are portable, will they be covered when brought to another location? How about desktop computers?
On the other hand, desktop computers may only be insured based on the declared premises of the insured.
Does the coverage automatically include all hardware in desktop computers?
Custom-built or modified devices can be covered subject to proper declarations of specifications and parts.
An all-in-one computer with a built-in monitor is considered as desktop computer.
Are personal laptops used by employees reporting to the office covered?
The employee may also select specific locations as covered premises such as whilst at home and in the office.
Can companies get Pro-Tech Computer Insurance for their computers and laptops?
On top of existing requirements, the company must be able to provide a complete list of equipment to be covered.
If the company has lent devices to the employees for their work-from-home set-up, the company must be able to provide a complete list of equipment, along with the names and addresses of the employee where the equipment is assigned.
Can desktop computers and laptops in schools be covered?
Can computer shop business owners get insurance for their devices?
Is theft covered in the policy?
How much is Pro-Tech Computer Insurance?
For desktop computers, you can insure the device for as low as Php 1,000 plus taxes. For laptops, minimum premium is Php 1,500 plus taxes.
How long is the validity of the coverage?
If I buy an insured device from my friend, will the coverage continue?
For the new owner to be the new Insured under the policy, a corresponding endorsement to the policy must be made, subject to the agreement of COCOGEN.
If I had my device repaired in a service center or repair shop, can I reimburse the cost of repair?
How to file a claim? What are the requirements?
You will be asked to submit the following documents:
- *Notice of Loss or Claim in Writing
- *Police Report / Incident Report
- *Photographs
- *Estimate and/or Actual Repair Cost/Invoices/Receipts
- *Technical Report/Assessment as to the cause of loss
Another optional document to be submitted is the Proof of Purchase.
Will my computer be replaced if I file a claim?
This will also depend on the availability of the device, or any similar kind, in the market.
If my device is still within warranty, can I file a claim?
What is Cocogen Parcel Protect?
Cocogen will pay the insured seller if mode of payment is Cash on Delivery (COD) or the insured buyer if item has been pre-paid, by repairing or replacing the damaged or lost parcel, or paying the purchase cost up to the sum insured.
Does it cover factory defects or damages caused by the sender of the parcel?
If the parcel did not arrive on the expected date of delivery, will it be covered?
Is loss of money covered? What are the items that can’t be covered?
Also, goods which are banned, prohibited or declared illegal by law are not covered.
What are the delivery services covered?
Are food deliveries included?
Are deliveries overseas covered?
Does Cocogen Parcel Protect cover island to island transit, e.g. from Luzon to Visayas?
Who should buy the insurance, the seller or the buyer?
Is delivery fee reimbursable in case of loss or damage to the item?
How to file a claim? What are the requirements?
You will be asked to submit the following documents:
a. Formal claim letter/notice stating the amount being claimed.
b. Police Report or Incident Report.
c. Delivery Invoice or Official Receipt or other supporting documents that specify the purchase cost.
d. Photos of the damaged or destroyed property and packaging e. Booking confirmation from chosen delivery service/transport provider.
f. Any additional documents that might be required by Cocogen.
Who can avail of Cocogen Road Pal Rescue?
What are the services and benefits of Cocogen Road Pal Rescue?
Read more about Road Pal Rescue here.
How much are your Road Pal Rescue services?
How do I contact Road Pal Rescue?
Can I buy Auto Excel Plus online?
What are the requirements for quotation/issuance of the policy?
Quotation:
- A complete description of the vehicle e.g. year, brand, make (ex. 2013 Honda City S 1.3 A/T)
- Insured’s Name and Address
- Usage of the vehicle
- Loss history for the past 3 years, if any
- Issuance
- Photocopy of OR/CR
- Pictures, 4 sides
- Name, Address, Birthday/Date of Inc., TIN, Contact No., Email Add
How can I request for a comprehensive motor insurance quotation?
You may also call our Client Services hotline at 8830-6000, send us a message via our website chat function, or get in touch with your preferred branch or agent.
What is a CTPL (Compulsory Third Party Liability)?
This is a mandatory requirement for car registration. It covers the death and/or bodily injury of a Third Party victim in an accident caused by the Insured Vehicle.
Can I buy CTPL insurance online?
Until what age can a car be insured?
10 years from the manufacturing date.
What is Comprehensive Insurance?
Comprehensive insurance is an optional motorcar insurance coverage that protects your car against damage not resulting from a collision, as well as from theft. It covers a wide array of events that can damage your car, including vandalism, fires, and falling objects.
What is the basis for the Sum Insured?
What is a deductible?
The deductible is the amount to be shouldered by the insured in case of a claim. This is specifically indicated on the Motor Car Policy and varies depending on the type of policy issued.
What is AON or 'Acts of Nature' coverage?
An added protection for the insured vehicle against natural calamities or “Convulsion of Nature”. The insured is entitled to indemnity and/or repair compensation for the loss or damage of the insured vehicle due to uncontrolled natural events such as Flood and Typhoon, Hurricane, Volcanic Eruption, Earthquake or other natural calamities
Do all motor car insurance policies include AON cover?
Not all policies include AON coverage. Insured may request for this coverage subject for approval and payment of additional premium and charges.
Who are considered as Third Party?
Any person other than the insured excluding any member of household or member of the family up to second degree of affinity or consanguinity or his employee in respect of death, bodily injury or damage to property arising out of and in the course of employment.
While driving my car, I accidentally hit somebody. How will my Motor policy respond?
Expenses incurred by the third party due to death, disablement and medical are covered under Compulsory Third Party Liability (CTPL) and any excess in the CTPL benefits are covered under the Voluntary Third Party Liability -Bodily Injury (VTPL-BI).
Are my passengers covered under the policy in the event of an accident?
If the policy has Automatic Unnamed Personal Accident (AUPA) cover, the company will pay for the expenses incurred by the passengers and the driver in case of an accident subject to the limits stated in the policy.
Will there be towing assistance in case of an accident?
What type of damages to a motor vehicle are covered under comprehensive Policy.
Accidental collision or overturning consequent upon mechanical breakdown or consequent upon wear and tear.
Fire, external explosion, self-ignition or lightning or burglary, housebreaking or theft.
Malicious Acts
Whilst in transit (including the process of loading and unloading) accidental to transit by road, rail, inland waterway, lift or elevator.
What are the types of coverage that may be offered under a Fire insurance policy?
Basic Cover: Fire and Lightning (FLS)
Optional Cover: Flood, Typhoon, Earthquake Fire/Earthquake Shock, Robbery, Extended Coverage, Explosion, Smoke Damage, Vehicle Impact and Falling Aircraft, Robbery, Riot and Strike, Malicious Damage
What are the documents and information needed for quotation/issuance of a fire insurance policy?
FIRE (Residential)
- Name of prospect
- Location of Property to be insured
- Occupancy and construction materials
- Boundaries and construction materials
- Amount to be insured
- Loss history on all perils for the past 3 years, if any
- Available fire extinguishing appliances and fire fighting facilities
FIRE (Commercial/Warehouse)
- Same as above requirements
- Nature of Business/Items, stocks being stored
What are the perils/packages/options may be offered for homes?
Fire and Lightning (FLS)
- All-in (FLS, Flood, Typhoon, Earthquake, Extended Cover, Riot, Strike and Malicious Damage) note: if location is included in the flood prone risk, check flood level.
- Home Excel Plus – exclusive for residential occupancy only, located in subdivision/village.
- Condo Excel Protect – for condominium units
Is there a special package that can be offered for offices and businesses?
ProBiz Excel Protect is a comprehensive insurance specially designed for small and medium size businesses, offering protection to the business owner for damage on its property due to fire, riot, malicious damage, water damage, and it can also be extended to cover damage due to earthquake, typhoon, flood, explosion, and other accidents.
ProBiz Excel Protect can be customized to suit the insurance needs of the Insured. The coverage can be expanded and the amount of insurance can be increased, depending on the requirements of the Insured’s business.
The protection offered under the ProBiz Excel Protect can include Personal Accident for the employees, loss of money and property due to fraudulent or dishonest acts of its employees, loss of money from robbery or burglary, breakdown of its machines, additional cost of doing business resulting from an insured event, and general liability to third party for property damage, bodily injury including legal expenses in case of a lawsuit, and many more.
What are businesses/enterprises that may be covered?
The covered risks are small and medium size commercial businesses with not more than Php100M property value. These include schools, churches, offices, medical, dental and optical clinics, car parks, dormitory, private & public boarding houses, display/ displaying samples only, motels and/or lodging houses, private membership clubs, retail stores other than public markets, restaurants, amusement halls; dance halls, building with retail stores, boutiques, shops as tenants, cinemas, theatres, gas stations, art galleries, furniture display stores, & mall tenants.
Businesses to be covered should be legitimate and must be duly licensed to operate.
What are the types of liability coverage does ProBiz Excel Protect offer?
This includes liability to Third Party for bodily injury and property damage like legal costs and expenses, fire and explosion legal liability, premise medical payment, food and drinks liability, among others.
What is the basis of valuation and indemnity in case of a loss under ProBiz Excel protect?
For the building, building improvements, machinery and equipment, the policy requires that the sum insured should equal the sound value, or the actual cash value, or the depreciated value of the property. This is also the basis of indemnity under the policy. However, it can be insured under a replacement value or “new for old” and should be specified in the application form and in the policy.
Stocks or goods for sale, on the other hand, may be valued under invoice cost, purchase order or the selling price.
What is the difference between Replacement Value and Sound Value?
Coverage under Replacement Value requires that the Sum Insured under the policy should be the amount to replace the property insured at the time of loss. It’s the “new for old” basis such that it will not deduct the depreciation cost even for properties that are not new.
Sound Value or Actual Cash Value or the Depreciated Value is the amount equivalent to the Replacement Value of the property less depreciation.
Note that it is required under the policy that the Sum Insured should equal the agreed valuation (Replacement Value, or Sound Value, or Actual Cash Value or Depreciated Value). In the event that the Sum Insured is less than the agreed valuation, then the payment of the claim under the policy is reduced proportionately.
If I get a policy based on Replace Value today, what will be the basis for renewal next year?
The replacement value on renewal may not be the same as the value of a property that is affected by inflation, supply and demand, and/or foreign currency movements (especially for imported items). It is advisable to review and update insured amounts regularly so as to avoid any under-insurance.
Is there an age limit for a property to be covered?
Properties of more than 25 years of age are subject to inspection, and may be insured if the building is properly maintained and housekeeping is good.
Is there a need for a property inspection?
We may require inspection depending on the nature of the business, amount to be insured, or the location of the risk. An application form and pictures will also do.
What is a condominium insurance?
Condominium insurance provides protection to owners of residential condo units, from damage or loss to the unit, its unit improvements, contents and personal belongings.Cocogen’s Condo Excel Protect also covers personal accident for household members, and general liability to third party for property damage, bodily injury including legal expenses in case of a lawsuit.
The Condominium Association has an existing cover for all units of the building, why do I need to get another insurance coverage for my unit?
The condominium association may secure insurance for damage to the condo building and the common areas, but the details of the insurance cover are not often disclosed to all condo unit owners. The amount of insurance may not be adequate to fully cover the condo building and common areas, or it may not cover a particular event especially fire, or natural catastrophic events. The condominium insurance provides additional protection to the condo unit owners.
The condominium insurance will cover properties of the condo unit owners that the condominium association is not obligated to secure insurance for. The condominium insurance can cover improvements to the condo unit including its contents and personal properties of the condo unit owner. The condominium insurance can also include assessment by the condominium association to the condo unit owner for its share of the damage on the condo building as well as the common areas for whatever reason, if the cause of the said damage is an accident covered under the condominium insurance.
If allowed, it makes sense to check the insurance coverage of your condo building with the condominium association, so you can secure the most appropriate protection for you.
What is Condo Excel Plus?
Condo Excel Protect can be customized to suit the insurance needs of the Insured. The coverage can be expanded and the amount of insurance can be increased, depending on the requirements of the Insured.
The protection offered under the Condo Excel protect can include Personal Accident for the household family members and Kasambahay, liability to third parties for accidental damage to property or bodily injury, Alternative Accommodation in case the condo unit is rendered not livable by an insured event, special assessment on the condo unit owner by the condominium association in case of damage to the condo building and common areas caused by an event covered under the condominium insurance, and many more.
Can tenants also apply for Condo Excel Plus?
Yes, unit owners and tenants can apply for Condo Excel Plus
What is the basis of valuation of the property?
The Actual Cash Value or the Depreciated Value of the Sound Value will be applicable to the building and contents.
Are the tenants (not owners) of the condo unit allowed to apply for condominium insurance?
Yes. Tenants of the condo unit may secure condominium insurance to cover their properties – contents and personal properties, as well as the other coverage in the package.
Is there an age limit for a property to be covered?
Properties of more than 25 years will be subject to inspection, and may be insured if the condo building is properly maintained.
Is there a need for a property inspection?
There is no need for prior inspection of the condo building or the condo unit (unless it is 25 years old and older as stated above). Clients just need to fill out and complete the information required in the application form. Cocogen may still request for inspection depending on the circumstances.
Do I need to update my sum insured/coverage if I made additional improvements?
Yes. Renovation increases the amount or the value of the property which means the sum insured must also be adjusted. Contact your COCOGEN agent to ensure your property is adequately covered.
Can the inspector appraise the value of the property of our clients?
The inspector’s responsibility is to check and assess the risk condition of the property to be insured.
What are the types of Personal Accident policies?
Personal Accident Policy for Individual
Group Personal Accident covering a group of individuals with a common affinity
Family Personal Accident covering family members- spouse and child/ren for married, parents and sibling/s for single.
International Travel Protect covering individuals, families and/or groups of persons whilst travelling abroad.
What is the maximum age for PA coverage?
Age of the Insured person is not more than 65 years old
What does Personal Accident Insurance cover?
Accidental Death and Disablement – minimum coverage
Additional Coverage:
Accidental Medical Reimbursement
Unprovoked Murder and Assault
Motorcycling
Accidental Burial Benefit
How can I get a quotation or avail of an Travel Excel Plus insurance policy?
Get an instant quote by visiting our website www.cocogen.com
Call our Client Services landline at (02) 8830-6000 or contact your nearest Cocogen branch/agent
Email – client_services@cocogen.com
Does Travel Excel Plus cover the amount required for approval of my Schengen Visa?
Our PLATINUM TEP package covers the amount needed for Schengen Visa processing
How many Members to covered under Travel Excel Plus?
Maximum of 4 (parents, children)-can be 1 parent and 1 child or 2 parents and 1 child
What is the Maximum age for Travel Excel Plus cover?
What is All-In PA Protect?
All-In PA Protect is a Personal Accident (PA) Insurance that keeps you financially secured against an accident that may result in death or bodily injury. It covers accidents sustained anywhere in the world and provides 24-hour coverage.
It comes in a handy card that serves as your proof of coverage so you can bring the card anytime and anywhere.
Who does All-in PA Protect cover?
All-In PA Protect comes in two sets of packages:
(1) All-In Protection for complete coverages
All-In Protection: covers the insured against accidental death and disablement, accidental medical reimbursement, burial benefit for accidental death, unprovoked murder and assault, motorcycling coverage, cash assistance due to natural death and daily hospital benefit. It has three packages with different limits of coverage.
(2) Hospital Allowance package
Hospital Allowance: comes with fixed coverage for accidental death and disablement, burial benefit for accidental death, accidental burial benefit and offers shorter or longer-term for hospitalization.
Who can avail of the product?
Anyone can buy Cocogen All-In PA Protect. However, there is an age limitation and only individuals aged 16 to 65 can be insured.
How can I avail of the product?
Visit a Cocogen branch near you. For the list of branches, check our Locate a Branch page. You may also contact our Customer Service Center at (02) 8830-6000.
A licensed agent will also be willing to help. Get in touch with your agents now.
How many cards can I buy for myself?
An individual can only get a maximum of four (4) cards of any combination.
What are the coverages under comprehensive general liability?
Covers claims arising from an Insured’s Liability due to damage or injury (caused by negligence or acts of omission) during the performance of his or her duties or business. It protects the Insured from the risk of liabilities imposed by lawsuits and similar claims.
Can I buy this product and give it as a gift to my relatives and friends?
How long is the validity of the insurance?
The insurance covers an individual for one whole year.
Can I use my card to pay for accident-related expenses?
No. The card only serves as proof of coverage. Standard processing for claims will be applied for All-In PA Protect.
When can I avail of the benefits of my insurance?
In case of an accident, you can claim for permanent disablement and reimburse your medical expenses. The Insured’s named beneficiary can get compensation for the death of the Insured.
Who are the qualified beneficiaries?
Qualified beneficiaries are the insured’s legal heirs.
What is Kasambahay Protect Insurance?
Kasambahay Protect Insurance is a Personal Accident Insurance for house helpers. It provides cash benefits to the insured and their beneficiaries in case of accidental death, disablement and injuries sustained anywhere in the world.
What does Cocogen offer under Kasambahay Protect?
Cocogen offers two packages – Kasambahay Protect as basic coverage and Kasambahay Protect Plus that comes with additional coverages.
What is the difference between Kasambahay Protect and Kasambahay Protect Plus?
All benefits under Kasambahay Protect are included in Kasambahay Protect Plus and comes with additional benefits such as unprovoked murder and assault and motorcycling coverage.
Who is considered as Kasambahay?
Based on the Kasambahay Law (Republic Act No. 10361), kasambahays are the people engaged in domestic work, whether on a live-in or live-out arrangement including general house helper, yaya, cook, gardener, laundry person, family driver and any person who regularly performs domestic work in one household on an occupational basis (live-out arrangement).
Who can avail this product?
The kasambahay can purchase the insurance by themselves. Likewise, employers can also purchase insurance for their kasambahay.
How can I avail the product?
You may contact a licensed agent or visit the Cocogen branch near you. For the list of branches, you may visit our Locate a Branch page. Or you may also contact our Customer Service Center at (02) 8830-6000.
How long is the validity of the insurance?
A kasambahay is covered for one whole year.
When can I avail the benefits of the insurance?
In case of an accident, the Kasambahay can get compensation for permanent disablement and reimbursements for medical expenses while the Insured’s beneficiary may get compensation for the death of the Insured.
Who are the qualified beneficiaries?
Qualified beneficiaries are the Insured’s legal heirs.
What are the properties intended to be covered under equipment floater?
Heavy equipment, cranes, bulldozers, backhoes, conveyors, forklift, vehicles moving its own motive power (but not licensed for general road use) and other similar equipment that are moving in a fixed location or a fixed track, mobile or portable.
What are the underwriting requirements for equipment floater?
Full description of the equipment, including year model, serial number, brand, model, submission of the picture of the equipment is encouraged.
The specific usage of the unit
Nature of location
General Location of operation
Duration of cover
Inspection report
Security measure
Loss experience for the past 5 years at least with details of gross loss amount, year, nature of loss, preventive measures after loss to avoid recurrence.
What are the coverages under money insurance?
The insurance covers the loss of money which shall include cash, currency, coins, banknotes, cheques, payroll (until paid out to the Insured’s employees), securities, negotiable instruments all being the property of the Insured or for which the Insured is responsible.
Money can be covered whilst inside the premises, in transit, in the process of being paid as Payroll or in the process of being transferred to the money carrier or bank representative.
What are the underwriting requirements for money insurance?
Accomplished application form which should include details of the following:
- How transit are made
- Safety precautions
- Full description of safes and storeroom
- Loss experience for the past 5 years at least with details of loss (gross amount of loss, date of accident, nature of loss, preventive measures taken after the loss)
What is the scope of coverage under fidelity guarantee?
The policy covers fraudulent acts or dishonesty committed by an employee during the Period of Insurance and discovered during such period or not later than six months after the resignation, dismissal, retirement, or death of the defaulting employee; or not later than three months after the termination of the policy.
What are the underwriting requirements for fidelity guarantee?
A proposal form must be completed for consideration of any risk. The form requests details of all employees to be guaranteed, their duties and salaries and the amount of which they are to be guaranteed. Information concerning the system of check is obtained from the proposal form.
What are the coverages under comprehensive general liability?
Covers claims arising from an Insured’s Liability due to damage or injury (caused by negligence or acts of omission) during the performance of his or her duties or business. It protects the Insured from the risk of liabilities imposed by lawsuits and similar claims.
Is there a required sum insured in comprehensive general insurance?
There is no specific limit for each Class, Operation or Occupation. The Insured may set their own coverage and limits, subject of course to the agreement of the Company, based on its perceived or potential maximum liability exposure. The more interaction with the public by the insured, or the riskier the products or services the insured handles, the higher the liability exposure. All policies must indicate an annual aggregate limit.
What is Marine Insurance?
Insurance of goods, wares, merchandise and other movable properties which may be exposed to marine hazards or perils during their transportation from one location to another.
What are the Basic Cargo Insurance Coverages?
The basic set of clauses commonly used for the insurance of cargo are as follows:
- Institute Cargo Clauses A
- Institute Cargo Clauses B
- Institute Cargo Clauses C
Clause “A”
Covers Loss/Damage/ Expense due to:
- All Risks of loss or damage to the subject matter insured including Theft, Pilferage & Non-Delivery.
Clause “B”
Covers Loss/Damage/ Expense due to:
- Fire
- Explosion
- Stranding of vessel
- Grounding of vessel
- Sinking of vessel
- Capsizing of vessel
- Overturning or derailment of land conveyance
- Collision or contact with external object
- Discharge of cargo at port of distress
- General Average
- Jettison
- Earthquake
- Volcanic Eruption
- Lightning
- Washing Overboard
- Entry of sea, lake or river water into vessel, conveyance container or place of storage
- Total loss of any package lost overboard or dropped while loading on to, or unloading from vessel or craft.
Clause “C”
Covers Loss/Damage/ Expense due to:
- Fire
- Explosion
- Stranding of vessel
- Grounding of vessel
- Sinking of vessel
- Capsizing of vessel
- Overturning or derailment of land conveyance
- Collision or contact with external object
- Discharge of cargo at port of distress
- General Average
- Jettison
What are the Requirements for quotation?
What is the coverage of Truck Risk Clause?
Loss or damage to the interest insured hereby in ordinary or customary course of
transit by
truck or railroad car, caused by the following:
- Fire, including self-ignition explosion of the conveyance
- Accidental collision of the vehicle (s) with any other automotive, vehicles or object excluding however, contact with any portion of the road bed, curbing or any stationary object while backing for loading or unloading or rails or ties of street and excluding collision of the load with any object does not involve collision of the carrying truck.
- Overturning or upset of the motor truck
- Collapse or subsidence of bridges
- Explosion
- Flood (meaning the rising of the navigable waters)
- Lightning
- Cyclone
- Tornado
- Earthquake.
Warranted free from all claims occasioned by loss of market, delay or deterioration.
Warranted that no liability shall attach to the Company under this Policy in respect
of goods lost or damaged whilst in the custody of the railway not claimed in writing
by the Insured against the railway or other carrier contained within the period
prescribed by the contract of carriage.
Underwriters to be entitled to any amount recovered from the carrier or others in respect of claim (less cost of recovery, if any) up to the amount paid by them in respect of such claim.
INLAND MARINE ENDORSEMENT FORM I (ROBBERY / HIJACKING CLAUSE)
This insurance also covers the risk of ROBBERY and HIJACKING as defined herein subject to General Exclusion below. The term ROBBERY shall mean the felonious act of taking of personal property or any chattel in trade belonging to another or board the scheduled conveyance herein with the use of violence or intimidation against persons in force upon things. It shall be understood, however, that the act of ROBBERY to be covered should occur within the area/s of operation described in the policy. The term HIJACKING shall mean the unlawful or violent seizure or wrongful exercise of control by armed persons of the scheduled conveyance herein and/or its men including the contents thereof during any ambulant trips on regular/scheduled routes specified in the policy on any Philippine road, highway or thoroughfare. The term “ambulant” shall mean from the time the conveyance referred to herein leaves the premises of the warehouse at the place of origin and shall continue whilst in motion and traveling and shall terminate upon arrival at the final warehouse or whilst temporary parked thereat or in any area within its vicinity awaiting unloading of its contents.
General Exclusions
This clause shall not cover any loss damage:
a.) proximately caused by any means other then those specified in the Policy;
b.) cause, committed or inflicted, either directly or indirectly by the Assured, any of his or his employees, directors or relatives either as principal, accomplice or accessory as defined in the Revised Penal Code of the Philippines;
c.) attributable to or occasioned by any act of war, civil war, revolution, rebellion, insurrection, civil strife, insurgency, uprising or any other similar act regardless of the time or place of the commission of the crime.
Co-Insurance Clause
Notwithstanding any provision stated in this policy to the contrary, it is hereby understood and agreed that subject to the annual aggregate limit indicated in the policy, it is hereby understood and agreed that the Company’s liability for any one loss due to ROBBERY / HIJACKING shall be limited to ________% percent of the sum insured in the policy or value of the merchandise / goods at the time of loss shall remain uninsured and be solely borne by the Assured.
INLAND MARINE ENDORSEMENT FORM I (ROBBERY / HIJACKING CLAUSE)
This insurance also covers the risk of ROBBERY and HIJACKING as defined herein subject
to General Exclusion below. The term ROBBERY shall mean the felonious act of taking
of personal property or any chattel in trade belonging to another or board the scheduled
conveyance herein with the use of violence or intimidation against persons in force
upon things. It shall be understood, however, that the act of ROBBERY to be covered
should occur within the area/s of operation described in the policy. The term HIJACKING
shall mean the unlawful or violent seizure or wrongful exercise of control by armed
persons of the scheduled conveyance herein and/or its men including the contents
thereof during any ambulant trips on regular/scheduled routes specified in the policy
on any Philippine road, highway or thoroughfare. The term “ambulant” shall mean
from the time the conveyance referred to herein leaves the premises of the warehouse
at the place of origin and shall continue whilst in motion and traveling and shall
terminate upon arrival at the final warehouse or whilst temporary parked thereat
or in any area within its vicinity awaiting unloading of its contents.
General Exclusions
This clause shall not cover any loss damage:
a.) proximately caused by any means other then those specified in the Policy;
b.) cause, committed or inflicted, either directly or indirectly by the Assured, any of his or his employees, directors or relatives either as principal, accomplice or accessory as defined in the Revised Penal Code of the Philippines;
c.) attributable to or occasioned by any act of war, civil war, revolution, rebellion, insurrection, civil strife, insurgency, uprising or any other similar act regardless of the time or place of the commission of the crime.
Co-Insurance Clause
Notwithstanding any provision stated in this policy to the contrary, it is hereby
understood and agreed that subject to the annual aggregate limit indicated in the
policy, it is hereby understood and agreed that the Company’s liability for any
one loss due to ROBBERY / HIJACKING shall be limited to ________% of the
sum insured in the policy or value of the merchandise / goods at the time of loss
shall remain uninsured and be solely borne by the Assured.
What are the documents and information needed for quotation/issuance of Engineering policy?
FOR CAR/EAR
- Name of Assured/s – Project Owner/s and Contractor/s, Sub-contractor/s
- Project Site
- Duration of project
- Total Contract Value
- Amount to be insured
- Brief Description of the Project
- Underwriting Documents such as Contract, Bill of Materials, Bar Chart and Breakdown of TCV
- Accomplished Cocogen CAR/EAR Questionnaire
FOR EEI
- Name as Assured/s
- Location of Risk
- Item Usage or Description
- Sum Insured
- 5-yr loss experience
- Accomplished Cocogen EEI Questionnaire
What are CAR, EAR and EEI?
CAR stands for Contractors All Risk Insurance. It is an insurance for buildings and civil engineering projects during construction against accidents, resulting in loss, or damage, or destruction of materials, works in progress, construction plant and equipment; and construction machinery.
EAR stands for Erection All Risk Insurance. It is an insurance against accidents resulting in damage or destruction of machinery, equipment, and apparatus during the process of erection or installation. If the project involves both the construction of buildings and installation of machinery, EAR is the most appropriate.
EEI stands for Electronic Equipment Insurance. An Electronic Equipment Insurance is an accident insured on an “all risks" basis for electronic equipment such as hospital equipment, computer & communication equipment (Excluding mobile and handheld devices), miscellaneous equipment such as film and television studio equipment, to mention a few.
What are the items covered under my CAR/EAR policy?
Interests insured under a CAR/EAR policy generally includes the following:
Building to be constructed and machinery and equipment to be used/erected.
Third-Party Liability for bodily injury or property damage arising from an accident during the duration of the project.
Third-Party Liability for bodily injury or property damage arising from an accident during the duration of the project.
Who can be covered under a CAR/EAR policy:
The following can be covered:
- Project Owner
- Main Contractor, Co-contractor, Sub-contractor, Supplier, Manufacturer
- Home Excel Protect – exclusive for residential occupancy only, bounded by residential buildings
- Lenders, Mortgagee/Banks, Creditors, Funders/Investors
What perils are covered under CAR/EAR policy:
Contractors All Risk and Erection All Risk Insurance provides an “All Risk” cover which includes perils such as:
- fire, lightning, explosion
- earthquake, rockslide, subsidence, landslide, tsunami
- storm, typhoon, flood, inundation
- riot, strike, malicious damage
It is recommended to read the policy wordings in full.
Is my policy coverage good for 1 year? Can I renew?
The CAR and EAR policies are not annual policies. The period of insurance is based on the estimated period to complete the project starting from the commencement of the work up to completion or projected turn-over to the Project Owner.
It is not renewable but you can request for an extension of period subject to prior approval and submission of the latest accomplishment report and written request indicating the reason for the completion delay.
What are the Main Classes of Bonds?
Judicial – refers to the class of bonds that is posted in compliance with a court order, the Rules of Court, or a statute.
Contractor’s Bonds – refers to the class of bonds which are posted in compliance with a private contract
What are the requirements for Bond issuance?
HEIR’S BOND REQUIREMENTS:
- Shares of Stocks
- Extra Judicial Settlement / Affidavit of Self Adjudication (if the applicant is the only heir)
- Newspaper Publication
- Death Certificate
- Tax Clearance/ Tax Receipts
- Birth Certificate (if surviving Heirs are children of the deceased)
- Marriage Contract (if spouse)
- Bank certification to determine the current balance subject of the bond
- Application form and two (2) solvent co-signers with photocopy of government issued ID
- Special Power of Atty. (SPA if applicable)
ANNOTATED TCT
- Extra Judicial Settlement /Affidavit of Self Adjudication (If applicant is the only Heir)
- Newspaper Publication for (3) consecutive weeks / Editors Affidavit
- Death Certificate
- Tax Clearance /Tax Receipts from BIR
- Marriage Contract
- Application Form duly accomplished and signed by the Applicant and (2) Co-signers with their respective ITRs and photocopy of any government issued ID. (SSS, Driver’s License, Passport)
- Photocopy of declared properties of co-signers
- Copy of the Title
- Birth Certificate (If the surviving heirs are children of the deceased)
- Special Power of Atty. ( if applicable)
- Deed of Sale (if applicable)
- Appraisal Report
DECEASED DEPOSITOR
- Extra Judicial Settlement /Affidavit of Self Adjudication (If applicant is the only Heir)
- Newspaper Publication for (3) consecutive weeks / Editors Affidavit
- Death Certificate
- Tax Clearance /Tax Receipts from BIR
- Marriage Contract
- Application Form duly accomplished and signed by the Applicant and (2) Co-signers with their respective ITRs and photocopy of any government issued ID.
- Birth Certificate (If the surviving heirs are children of the deceased)
- Special Power of Attorney if applicable
- Bank Certification indicating amount of current deposit to be withdrawn by the heirs
SHARES OF STOCKS
- Extra Judicial Settlement /Affidavit of Self Adjudication (If applicant is the only Heir)
- Newspaper Publication for (3) consecutive weeks / Editors Affidavit
- Death Certificate
- Tax Clearance /Tax Receipts from BIR
- Marriage Contract
- Application Form duly accomplished and signed by the Applicant and (2) Co-signers with their respective ITRs and photocopy of any government issued ID. (SSS, Driver’s License, Passport)
- Photocopy of declared properties of co-signers
- Birth Certificate (If the surviving heirs are children of the deceased)
- Certification from the company (re: Stock details)
BID BOND
- Registration of Company’s name with the SEC (corporation) Bureau of Domestic Trade (sole-prop).
- Articles of Incorporation and By-Laws.
- Brief history of the company and its Key Personnel.
- Latest audited Financial Statements.
- Board Resolution/Secretary’s Certificate Authorizing the Officer(s) to obtain bonds from Cocogen Insurance, Inc. and is/are authorized to negotiate, sign, and deliver in behalf of the company any documents, contracts, papers or records necessary notarized and original copy requisite to implement such authority.
- Application Form duly accomplished and signed by the Applicant and (2) Co-signers with their respective ITRs and photocopy of 2 valid ID’s (Driver’s License, SSS ID, Passport, Voter’s ID)
- Photocopy of declared TCTs of co-signers
- List of completed and on-going projects or clienteles.
Others:
1. Invitation to Bid
2. Instructions to Bidders
GUARANTY BOND
- Registration of Company’s name with the SEC (corporation) Bureau of Domestic Trade (sole-prop).
- Articles of Incorporation and By-Laws.
- Brief history of the company and its Key Personnel.
- Latest audited Financial Statements.
- Board Resolution/Secretary’s Certificate Authorizing the Officer(s) to obtain bonds from Cocogen Insurance, Inc. and authorized to negotiate, sign, and deliver in behalf of the company any documents, contracts, papers or records necessary notarized and original copy requisite to implement such authority.
- Application Form duly accomplished and signed by the Applicant and (2) Co-signers with their respective ITRs and photocopy of 2 valid ID’s (Driver’s License, SSS ID, Passport, Voter’s ID)
- Photocopy of declared TCTs of co-signers
- List of completed and on-going projects or clienteles.
Others:
1. Copy of the Contract /Agreement / P.O. / Work Order/ Service Agreement
2. Copy of the Certificate of Completion and Final Acceptance or Final Turn-over
Certificate and Acceptance
- Registration of Company’s name with the SEC (corporation) or Bureau of Domestic Trade (sole-proprietorship).
- Articles of Incorporation and By-Laws.
- Brief history of the company and its Key Personnel.
- Latest audited Financial Statements.
- Board Resolution/Secretary’s Certificate Authorizing the Officer(s) to obtain bonds from Cocogen Insurance, Inc. and is/are authorized to negotiate, sign, and deliver in behalf of the company any documents, contracts, papers or records necessary notarized and original copy requisite to implement such authority.
- Application Form duly accomplished and signed by the Applicant and (2) Co-signers with their respective ITRs and photocopy of 2 valid ID’s (Driver’s License, SSS ID, Passport, Voter’s ID)
- Photocopy of declared TCTs of declared properties
- List of completed and on-going projects or clienteles.
Others:
1. Court Order
2. Copy of the Complaint
- Registration of Company’s name with the SEC (corporation) Bureau of Domestic Trade (sole-prop).
- Articles of Incorporation and By-Laws.
- Brief history of the company and its Key Personnel.
- Latest audited Financial Statements.
Board Resolution/Secretary’s Certificate Authorizing the Officer(s) to obtain bonds from Cocogen Insurance, Inc. and is/are authorized to negotiate, sign, and deliver in behalf of the company any documents, contracts, papers or records necessary notarized and original copy requisite to implement such authority.
- Application Form duly accomplished and signed by the Applicant and (2) Co-signers with their respective ITRs and photocopy of 2 valid ID’s (Driver’s License, SSS ID, Passport, Voter’s ID)
- Photocopy of declared TCTs of co-signers
- List of completed and on-going projects or clienteles.
Others:
1. Copy of the Complaint together with its Annexes / Exhibits
- Registration of Company’s name with the SEC (corporation) Bureau of Domestic Trade (sole-prop).
- Articles of Incorporation and By-Laws.
- Brief history of the company and its Key Personnel.
- Latest audited Financial Statements.
- Board Resolution/Secretary’s Certificate Authorizing the Officer(s) to obtain bonds from Cocogen Insurance, Inc. and is/are authorized to negotiate, sign, and deliver in behalf of the company any documents, contracts, papers or records necessary notarized and original copy requisite to implement such authority.
- Application Form duly accomplished and signed by the Applicant with photocopy of (2) government issued ID’s like SSS, Drivers License, passport
- List of completed and on-going projects or clienteles.
Others:
1. Cash Deposit in a form of Manager’s check payable to
Cocogen Insurance, Inc. equivalent to the amount
of bond, or Hold Out deposit , or Time Deposit with UCPB
2. Copy of the NLRC Decision / Resolution
- Registration of Company’s name with the SEC (corporation) Bureau of Domestic Trade (sole-prop).
- Articles of Incorporation and By-Laws.
- Brief history of the company and its Key Personnel.
- Latest audited Financial Statements.
- Board Resolution/Secretary’s Certificate Authorizing the Officer(s) to obtain bonds from Cocogen Insurance Company, Inc. and is/are authorized to negotiate, sign, and deliver in behalf of the company any documents, contracts, papers or records necessary notarized and original copy requisite to implement such authority.
- Application Form duly accomplished and signed by the Applicant and (2) Co-signers with their respective ITRs and photocopy of 2 valid ID’s (Driver’s License, SSS ID, Passport, Voter’s ID)
- Photocopy of declared TCTs of co-signers
- List of completed and on-going projects or clienteles.
Others:
COPY OF THE CONTRACT/ P.O. WORK ORDER/ SERVICE AGREEMENT
NOTICE TO PROCEED /NOTICE OF AWARD
LETTER OF AWARD/LETTER TO PROCEED
QUOTATION /PROPOSAL LETTER
DETAILED SCOPE OF WORK AND BAR CHART
- Petition for Guardianship /Court Order
- Death Certificate
- Birth Certificate of the minors
- Tax Clearance /Tax Receipts from BIR
- Marriage Contract
- Application Form duly accomplished and signed by the Applicant and (2) Co-signers with their respective ITRs and photocopy of any government issued ID.
- Photocopy of declared TCT s of co-signers
- List of properties subject of guardianship
- Copy of Life Insurance Policy (If the subject property is a Life Insurance Policy)
What is the Extension of cover?
Submit Progress Report signed by the Obligee and a Letter of Extension signed by the Insured
What are the requirements for Bond quotation?
Bonds undertaking
Scope of work
Amount of Contract
Amount of Bond required
Who are the parties involved in Bonds?
The Principal – party who is obliged to perform/do an undertaking/obligation and in whose behalf the bond is issued (the contractor).
The Obligee – who requires the bond; the party in whose favor the bond issued (the owner).
The Surety – guarantees the performance of an obligation/underwriting (insurance company).
What are the types of Contractor's Bonds?
a. Bid Bond – guarantee that the successful bidder shall prescribed period enter
into contract
with the obligee and file the required bonds for the faithful and complete prosecution
of the work
specified in contract.
b. Performance Bond – guarantees the construction and completion of a project.
c. Surety – guarantee the repayment of the advance payment granted the contractor
through deductions
from progress billings submitted by the contractor for his periodic accomplishments.
d. Guaranty/Retention – guarantees the correction and repair of hidden defects in
the materials and
workmanship used by the contractor in the project found or becoming evident within
one (1) year from
the date of final acceptance.
What are the types of Judicial Bond?
a. Administrator’s – is a person or corporation appointed by the court to administer
the estate of a person
who died without a will.
b. Guardian’s Bond – a guardian who is lawfully vested with the power and charged
with the duty of taking
care of the person and or managing the property and rights of another person who
because of minority
or considered incapable of administering his own affairs.
c. Attachment Bond – the property of the adverse property in a case is taken into
custody of the law,or
attached as security for the satisfaction of any judgment which the plaintiff obtained
(property being
mortgaged to the bank).
d. Heir’s Bond – when a person dies without leaving a will, his estate may be adjudicated
or distributed
among his legal heirs.
e. Replevin Bond – where a person seeks an action to recover possession of a personal
property.
Replevin is resorted to in cases of repossession of personal properties sold on
installment such as
household appliance or vehicles when the buyer fails to pay the agreed installments.
f. Supersedeas (NLRC – labor cases) – where the obligee rendered its decision in
favor of the
complainant, which Order may be executed immediately. The respondent (applicant)
in order to stay
the execution of the award, may file appear to the case and file a supersedeas bond.
g. Bail Bond – an occurrence when a person is accused of a crime before a court,
a warrant for his
arrest is issued. In order to avoid his arrest and or/secure his temporary liberty
(in case accused is
already arrested), this bond is filed.
Why do we require Cash Collateral to Supersedeas and Bail Bonds?
These bonds are delicate and risky in nature as it guarantees payment of the judgment debt being appealed from the lower court.
What is the Right to a financially sound and viable insurance company?
Policyholders shall have the right to an insurance company that is financially stable and solvent to ensure its ability to honor its contractual obligations to its policyholders.
What is the Right to access insurance companies' official financial information?
Policyholders shall have the right to access insurance companies’ audited financial statements and annual reports.
What is the Right to be informed of the license status of insurance companies, intermediaries nad soliciting agents?
Policyholders shall have the right to be informed if a particular insurance company, intermediary or soliciting agent is duly licensed to engage in doing insurance business in the Philippines.
What is the Right to be offered a duly approved insurance product?
Only duly approved insurance products in accordance with the lnsurance Code and pertinent regulations shall be offered.
What is the Right to be informed of the benefits, exclusions and other provisions under the policy?
Policyholders shall have the right to be informed of the benefits, exclusions and all other provisions of the policy.
What is the Right to receive the policy?
Policyholders shall have the right to receive the policy within a reasonable period of time after payment of premium.
What is the Right to confidentiality of information?
Policyholders shall be protected from unauthorized disclosure of personal, financial and other confidential information by insurance companies, intermediaries and soliciting agents, except as otherwise allowed by law, regulations or valid court or government order.
What is the Right to prompt and fair settlement of claims?
Insurance companies shall process and settle policyholders’ claims with utmost good faith and within a reasonable period. Policyholders shall have the right to:
- receive a written acknowledgement of the claim;
- prompt payment of valid claims within the period prescribed under the lnsurance Code or pertinent regulations; or,
- receive a written denial of claim with the stated ground and/or basis thereof.
What is the Right to efficient service from insurance companies, intermediaries and soliciting agents?
Policyholders shall have the right to timely and prompt delivery of service from insurance companies, intermediaries and soliciting agents.
What is the Right to seek assistance from the Insurance Commission?
- report any wrongful act or omission of an insurance company, intermediary or soliciting agent;
- file a complaint against any insurance company for unreasonable denial of a valid insurance claim; and,
- institute action against any erring insurance company, intermediary and soliciting agent for any of the grounds provided under the lnsurance Code and other pertinent regulations.