Taxi drivers express support for new vehicle insurance system

MANILA, Philippines - Taxi drivers accredited by the Department of Tourism (DOT) expressed support for a new vehicle insurance system that intends to improve service at lower costs. “Taxi drivers and motorists…have suffered long enough under the present system," the Department of Tourism United Accredited Taxi Drivers Association (DTUATDA) said in a statement. “Many of our members have personally experienced not getting any money after an accident, and now we realize the premium we pay is even overpriced by almost 100%, this cannot continue, the system has to change," Ranier Zamora, DTUATDA President said, referring to the current compulsory third party liability (CTPL) insurance system. Citing the Insurance Commission’s records in 2006, the group claimed that only 2.5 million or less of the total 5.4 million registered vehicles had reported Certificates of Cover (COCs). This indicated that more than half of the CTPL insurance sold to vehicles were either missing or fraudulent. “This dirty racket has to stop, we need to put an end to this system that has taken advantage of million of motorists and has stolen from the unsuspecting public," the statement said, quoting Commissioner Eduardo Malinis of the Insurance Commission. Earlier, Land Transportation Office (LTO) Chief Alberto Suansing disclosed that new CTPL guidelines are currently being drafted by concerned agencies for immediate implementation. Once implemented, the Integrated Insurance Registration System will ensure against fake CTPLs, make the registration and CTPL-procurement process hassle-free, and ensure that the government gets all incomes due it from CTPL premiums paid, the statement said. - GMANews.TV