INS. COM. DEPARTMENT ORDER NO. 49-96 AMENDMENT OF DEPARTMENT ORDER NO. 116-93, DECEMBER 7, 1993 May 02, 1996

Pursuant to the authority vested in me by the provisions of Section 188 of the Insurance Code in relation to those of Section 184 thereof, and upon the recommendation of the Insurance Commission, sub-paragraph a, Rule No. 2 of Department Order No. 116-93 is hereby amended to read as follows:

“a. Non-life company — that its maximum writing authority on any one risk be limited to risks the value of which per sum insured does not exceed the following amounts in relation to its paid-up capital:

Paid-Up Capital	Writing Authority
below P30 million	3 times paid-up capital
30,000-39,999	4 times paid-up capital
40,000 - 49,999	5 times paid-up capital”

This Order takes effect immediately.

Adopted: 2 May 1996

(SGD.) ROBERTO F. DE OCAMPO
Secretary