The Land Transportation Franchising and Regulatory Board (LTFRB) has approved a new passenger insurance package that doubled the benefits for those killed or hurt in accidents involving public utility vehicles (PUVs). 76, signed by LTFRB Board members Aileen Lizada and Ronaldo Corpus while LTFRB Chair Martin Delgra was away on leave, also raised basic premium rates. ADVERTISEMENTUnder the resolution signed on Friday, current passenger death benefits went up from P200,000 to P400,000. The new schedule for the Personal Passenger Accident Insurance Program also doubled injury-related benefits. But the increase in benefits also means a hike in basic premium rates as negotiated with insurance providers.

Source: Philippine Daily Inquirer September 23, 2018 21:51 UTC