Dooc resigns

MANILA, Philippines - Insurance Commissioner Emmanuel L. Dooc has filed his irrevocable resignation effective Aug. 16 this year. The Department of Finance (DOF), however, has not released any official statement on his resignation.

In an interview, Dooc said that his resignation was prompted by a provision in the proposed amendments to the Insurance Code, which gives the insurance commissioner a six-year, fixed term.

“I am just respecting the provision for a fixed term in the amendments. I want to give way to the President or the Secretary (of Finance) to appoint a new commissioner, since it is common knowledge that the Commission fought hard for the passage of the proposed amendments,” he told The STAR.

Earlier, Dooc submitted two resignation letters in two separate occasions. But in each case, Finance Secretary Cesar Purisima did not accept the resignation.

The commissioner explained that he deemed it important to step down and give the President Aquino a free hand in appointing a new IC head as the proposed law amending the 1994 Insurance Code will pass into law soon. The IC head is a presidential appointee.

Dooc was appointed commissioner in December  2010.

Prior to joining government, he served as legal counsel of the Philippine Life Insurance Association (PLIA), the trade organization of the country’s life insurance industry.

He has served SGV & Co., the Philippine American Life and General Insurance Co. (Philam Life) and the AIA Group, one of the largest Asian insurance and financial institution.

Presently, the IC has four deputy commissioners. Vida T. Chiong, for technical services; Ferdinand George A. Florendo, financial examination; Dorothy M. Calimag, management support services; and lawyer Dennis B. Funa, legal.