AN accredited insurance company started giving insurance benefits yesterday to the families of the victims of the Jegans bus that crashed in Don Andres Soriano road in Toledo City last Saturday evening.
The Passenger Accident Management Insurance (PAMI), one of two accredited insurance companies of the Land Transportation Franchising and Regulatory Board 7 (LTFRB-7) had started releasing 50 percent of the insurance policy to provide financial and medical assistance to the victims of the bus accident
Regional LTFRB-7 Director Ahmed Cuizon said this during yesterday’s 888 news forum at Marco Polo Plaza Hotel.
He said the 50 percent includes P75,000 financial assistance to the families of the fatalities and the P15,000 medical assistance to the families of the casualties.
There were seven passengers killed and 43 wounded when the bus rammed a concrete fence and fell on its right side.
The other accredited insurance company under the Personal Passenger Accident Insurance (PPAI) program of the LTFRB is SCCI Management and Insurance Corp.
The other half of the insurance will be released until all documentary requirements are complete, Cuizon said.
LTFRB allowed only two management companies to undertake the PPAI Program to serve the mandatory insurance coverage for the country’s 500,000-strong public utility vehicles, according to the SCCI website.
“For every franchise, an insurance policy is necessary to every public utility vehicle operator,” Cuizon said.
Cuizon added that it’s a necessary requirement for public utility vehicle (PUV) operators to get an insurance policy in either of the two companies.
“Without the insurance policy we do not approve franchise applications,” he said.
Cuizon said the PPAI program of LTFRB was conceived to cater to the needs of accident victims.
“It’s very important to the passengers,” said Cuizon.
Jegans bus, owned by Dr. Antonio Yapha has 11 buses in its fleet.
Earlier three buses were suspended while nine of them still operate.
Cuizon said the suspension of just three buses won’t impact on the peak travel season for the celebration of All Saints and All Souls day.
“And the Yapha family is attending to the needs of the victims even right now at VSMMC,” he added.