PCIC CORPORATE GOVERNANCE SCORECARD CY 2019
QUESTION
LINK
Yes
1. CSR Statement
2. Performance Commitment
3. Part 7, Sec 5.1.1 and Part 7.1 Sec. 2 of the Manual Corporate Governance
Yes
1. CSR Statement
2. Part 7, Sec 5.1.2 and Part 7.1 Sec. 4 of the Manual Corporate Governance
Yes
1. CSR Statement
2. Part 7, Sec. 3.2 and Part 7.1 Sec. 5 of the Manual Corporate Governance
Yes
1. See
Farmers to gain better insurance coverage under PCIC-SSS partnership
PCIC RO 3-A joins Caravan of Love 2019
PCIC RO 2 awards claims indemnity under Accident Insurance Program
2. CSR Statement
Yes
1. Interaction with Communities
2. CSR Statement
Yes
1. Environmentally-friendly value chain
PCIC Region 6 joins Leon’s Arbor Day 2019
PCIC holds tree planting activity in Koronadal City
PCIC conducts coastal cleanup
PCIC Region 7 conducts team building workshop, planting activity
2. CSR Statement
Yes
See
Corporate Social Responsibility Activities
5. Performance-enhancing mechanisms for employee participation should be permitted to develop.
Yes
1. CSR Statement
2. Board Resolution No. 97-062
(Amendment to PCIC Hospitalization, Medical and Dental/Optical Benefits Plan)
Yes
Data on Health, Safety and Welfare of Employees
Yes
Trainings and Seminar 2019
Yes
Trainings and Seminar 2019
Yes
1. PCIC Whistleblowing Policy
2. Grievance Procedure
Yes
1. PCIC Whistleblowing Policy
2. Grievance Procedure
II. Disclosure and Transparency (35%)
7. Quality of Annual Report Does the GOCC’s Annual Report disclose the following items:
a. Corporate objectives
Yes
See
About Us
Corporate Objectives
Yes
PCIC gives govt P453 M dividend to aid in COVID-19 response
Total Comprehensive Income for 2019 – P907.621 Million
Dividends to the National Government for 2019 – P453.810 M
Yes
PCIC passes 2019 ISO 9001:2015 follow-up audit conducted by TÜV Rheinland
GOCCs’ corporate governance score improving
Farmers satisfied with PCIC services -survey
Yes
Biographical Details
Yes
Biographical Details
9. Corporate Governance Confirmation Statement
Yes
Statement on PCIC’s Full Compliance with the Code of Corporate Governance
Yes
Audited annual financial report from COA
(Date Received: September 30, 2020
Date posted: October 7, 2020)
Yes
2019 Annual Report (Date posted: December 10, 2020)
Yes
Statement of Management’s Responsibility for Financial
Statements
Yes
In accordance with the PCIC Manual on Corporate Governance (Part 3, Section 3.3.3), the Board of Directors monitors and evaluates the implementation of corporate strategies and policies, business plans, and operating budgets, as well as Management’s overall performance through the reports during Management Committee Meetings.
The Board of Directors, the Top Management, and the Department and Regional Managers periodically convene for operation reviews and planning conferences to set performance targets, assess insurance production accomplishments, review overall corporate performance, identify operational issues and challenges, and formulate strategies to attain the targets. The operation reviews and planning conferences were held on January 28 to 30 and July 17 to 19 for FY 2019.
Yes
In accordance with the PCIC Manual on Corporate Governance (Part 3, Section 3.3.3), the Board of Directors monitors and evaluates the implementation of corporate strategies and policies, business plans, and operating budgets, as well as Management’s overall performance through the reports during Management Committee Meetings.
The Board of Directors, the Top Management, and the Department and Regional Managers periodically convene for operation reviews and planning conferences to set performance targets, assess insurance production accomplishments, review overall corporate performance, identify operational issues and challenges, and formulate strategies to attain the targets. The operation reviews and planning conferences were held on January 28 to 30 and July 17 to 19 for FY 2019.
Yes
CY 2019 Performance Scorecard – validated by GCG
Yes
See In Compliance with Sec. 43 of GCG MC 2012-07 Sec. 43.4.d
Code of Ethics
Yes
See In Compliance with Sec. 43 of GCG MC 2012-07 Sec. 43.4.d
Code of Ethics
Yes
See In Compliance with Sec. 43 of GCG MC 2012-07 Sec. 43.4.d
Code of Ethics
Yes
The Governance Committee covers the functions of the Nomination and Compensation/Remuneration Committee.
Refer to the responsibilities of the Governance Committee.
Summary of Accomplishments (2019)
Yes
Attendance record of Directors in Board and Committee meetings 2019
Yes
Summary of Accomplishments (2019)
Yes
Summary of Accomplishments (2019)
Information on Board Committees and their Activities
18. If yes, is the report of the Audit Committee publicly disclosed?
Yes
Summary of Accomplishments (2019)
20. Did the Audit Committee meet at least four times during the year?
Yes
Attendance record of Directors in Board and Committee meetings 2019
Yes
Summary of Accomplishments (2019)
Information on Board Committees and their Activities
Yes
Summary of Accomplishments (2019)
24. Board meetings and attendance
a. Are the Board of Directors meetings scheduled at the beginning of the year(end of Q1)
b. Does the Board of Directors meet at least monthly?
Yes
Attendance record of Directors in Board and Committee meetings 2019
NO
Yes
Without the presence of President Jovy C. Bernabe, the PCIC
Board of Directors met on July 30, 2019 to discuss the audit
results/findings based on COA’s Annual Audit Report on PCIC.
Yes
See PCIC Organizational Chart
Yes
Information on Board Committees and their Activities
a. Does the company disclose the internal control procedures/risk management systems it has in place?
Yes
Statement on Risk Management and Internal Control
b. Does the Annual Report disclose that the Board of Directors/Commissioners has overseen a review of the company’s materials controls (including operational,financial and compliance controls) and risk management systems?
Yes
Statement on Risk Management and Internal Control
Yes
Statement on Risk Management and Internal Control
Yes
Statement on Risk Management and Internal Control
Yes
The Acting Chairman of the Board is Mr. Crisologo DP. Ignacio while the President is Atty. Jovy C Bernabe.
29. Board of Directors Development
Yes
1. Manual on Corporate Governance
Part 3.1 of PCIC’s Manual on Corporate Governance mandates the Governance Committee to encourage Directors to attend on-going or continuous professional education programs. Attendance of the Directors to orientations, seminars, workshops, other educational programs recommended by PCIC and/or the Governance Committee serves as service to the Corporation.
2. Board Matters
Yes
Biographical Details
a. Is an annual performance assessment conducted of the Board of Directors?
Yes
Aside from the performance assessment done through the iPED pursuant to GCG MC No. 2014-03, the Board Members also conducted an overall performance assessment for the Board as a whole in order to assess/determine its effectiveness in carrying out its responsibilities, strengthen its governance performance and practices, and help it determine its development priorities.
Yes
For the overall performance assessment of the Board, the Board members were made to answer a Board-appraisal form which seeks to evaluate the overall performance of the Board.
Yes
Criteria for the Board’s Overall Performance Assessment:
Performance Evaluation System (PES) Rating – 50%
Board’s Performance Review Rating – 50%
Yes
An annual performance assessment is conducted for each Board of Directors’ Committee. Committee members were asked to answer a Committee appraisal form which seeks to evaluate the overall performance of the Committee. Board members who are not part of the Committee are also asked to evaluate the performance of the Committee in order to gain an outside perspective/impression on the effectiveness of the Committee in carrying out its key responsibilities.
No
Quality of Annual Report
Yes
Audited annual financial report from COA
(Date Received: September 30, 2020
Date posted: October 7, 2020)
NO
NO