PCIC Corporate Governance Scorecard (CY 2014)
QUESTION
YES
NO
LINK

I. Stakeholder Relationships (15%)

1 Does the GOCC disclose a policy that:

MANUAL ON CORPORATE GOVERNANCE
a. Stipulates the existence and scope of its effort to address customer’s welfare?  check See Part 7, Section 5.1.1 and Part 7.1, Section 2 of the Manual on Corporate Governance
b. Elaborates its efforts to interact with the communities in which they operate?  check See Part 7, Section 5.1.2.b and Part 7.1, Section 4 of the Manual on Corporate Governance
c. Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development? check See Part 7, Section 3.2 and Part 7.1, Section 5 of the Manual on Corporate Governance
2 Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?
a. Customer health and safety  check Per ICD Trial Assessment

PCIC ASSISTS U.P. TACLOBAN STUDENTS

AFTER HAIYAN (YOLANDA), PHILIPPINES EXPANDS CROP INSURANCE

CROP INSURANCE PROGRAM SHIELDS FARMERS FROM CLIMATE CHANGE
b. Interaction with the communities  check Indemnity check distributions and orientations/seminars involving the community

PCIC RO II CONDUCTS ORIENTATION SEMINAR FOR LGU INSURANCE COORDINATORS

PCIC DISTRIBUTES INDEMNITY CHECKS TO BANTAYAN ISLAND FARMERS

PCIC DISTRIBUTES INDEMNITY CHECKS TO TROPICAL DEPRESSION AGATON-AFFECTED FARMERS

AWARDING OF INDEMNITY CHECKS TO REGION VIII FARMER BENEFICIARIES AFFECTED BY YOLANDA TYPHOON 

PCIC DISTRIBUTES INDEMNITY CHECKS IN TACLOBAN CITY AND LAUNCHES FULL PREMIUM SUBSIDY PROGRAM FOR REGION VIII FARMERS

PCIC DISTRIBUTES INDEMNITY CHECKS IN BANTAYAN ISLAND DURING PRESIDENT AQUINO’S VISIT

PCIC REGION V AWARDS INDEMNITY CHECKS TO ARBS AFFECTED BY TYPHOON YOLANDA IN MASBATE

PCIC AWARDS INDEMNITY CHECKS TO FARMERS IN ALBAY AND CAMARINES SUR

PCIC AWARDS INDEMNITY CHECKS TO FARMER BENEFICIARIES IN ALABEL, SARANGANI PROVINCE

PCIC DISTRIBUTES INDEMNITY CHECKS TO WARA RECIPIENTS IN SOUTH COTABATO

PCIC AWARDS INDEMNITY CHECKS TO REGION II TYPHOON-AFFECTED-FARMERS

PCIC AWARDS INDEMNITY CHECKS TO RSBSA FARMERS OF DAVAO ORIENTAL
c. Environmentally-friendly value chain  check PCIC RO III CONDUCTS TREE PLANTING

PCIC PROMOTES ENVIRONMENTAL SUSTAINABILITY PROGRAM
3 Does the GOCC have a separate corporate social responsibility (CSR) report/section or sustainability report/section  check Annual Report (Page 21) -CSR Statements Activities

PCIC allotted P183.771 M as premium subsidy/discount for rice and corn crop subsistence farmers under the PCIC regular program through Board Resolution Nos. 2013-047 and 2014-059.

For the RSBSA insurance program, PCIC utilized P1.684 B for the 75 DBM-identified provinces. The amount in excess of the P1.183 B provided by the National Government was shouldered by PCIC in accordance with Board Resolution No. 2014-085.

PCIC allotted P228.016 M for the full free insurance coverage under the Yolanda Rehabilitation Program in Regions VI, VII and VIII through Board Resolution Nos. 2014-013, 2014-042, and 2014-060.

PCIC allotted P134 M for the APCP and CAP-PBD programs through Board Resolution No. 2014-028. A total of P52.271 M was utilized.
4 Where stakeholder interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights.
a. Does the GOCC provide contact details via the company’s website or Annual Report which stakeholders (e.g. customers,suppliers, general public, etc.) can use to voice their concerns and/or complaints for possible violation of their rights?  check Citizen’s Charter (Feedback, Complaints, and Redress Mechanisms)
5  Performance-enhancing mechanisms for employee participation should be permitted to develop.
a. Does the GOCC explicitly mention the health, safety, and welfare policy for its employees?  check Manual on Corporate Governance (See Part 7, Section 5.4.3, Part 7.1, Section 3, and Part 8
b. Does the GOCC publish data relating to health, safety, and welfare of its employees?  check Data on Health, Safety and Welfare of Employees
c. Does the GOCC have training and development programmes for its employees?  check Annual Report 2014 (See pages 19-20)
d. Does the GOCC publish data on training and development programs for its employees?  check  Training and Development Program

 

6 Stakeholders including individual employee and their representative bodies, should be able to freely communicate their concerns about illegal or unethical practices to the board and their rights should not be compromised for doing this.

Manual on Corporate Governance
a. Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior?  check See Part 7 Section 3.5 and 6 of the Manual on Corporate Governance

Grievance Machinery/Whistleblowing Policy
b. Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?  check See Part 7 Section 3.5 of the Manual on Corporate Governance

Grievance Machinery/Whistleblowing Policy

II. Disclosure and Transparency (35%)

7  Quality of Annual ReportDoes the GOCC’s Annual Report disclose the following items: To be posted on the website in accordance with the agreement during CGS Feedback Session (Posted under 2014 annual report)
a. Corporate objectives  check Strategy Map
b. Financial performance indicators  check Annual Report
PCIC Financial Statement (Pages 35-36)
Notes to Financial Statement (Pages 37-41)
c. Non-financial performance indicators  check Annual Report
PCIC new products/programs (RSBSA insurance program, DA FSSP, Yolanda Rehabilitation Program, APCP, CAP-PBD) (Pages 3-7)
PCIC Extension Offices (Pages 14-15)
d. Details of whistle-blowing policy check Manual on Corporate Governance (See part 7 Section 3.5 of the Manual on Corporate Governance)

Grievance Machinery/Whistleblowing Policy

e. Biographical details (at least age,qualifications, date of first appointment,relevant experience, and any other directorships of listed companies) of directors/commissioners  check Biographical details 
f. Training and/or continuing education programme attended by each director/commissioner  check Biographical details 
8  Are the Annual Reports downloadable from the GOCC’s website?  check Annual Report
9  Corporate Governance Confirmation Statement
Does the Annual Report contain a statement confirming the company’s full compliance with the code of corporate governance and where there is non-compliance, identify and explain reasons for each issue?  check Statement on PCIC’s Full Compliance with the code of Corporate Governance

Certificate of Compliance – Transparency Seal Provision
10 Timely filling/release of annual/financial reports.
a. Are the audited annual financial report/statement released within 60 days upon receipt from COA  check Annual Report (Date received : August 7, 2015) (Date posted: September 3, 2015)
b. Is the annual report released within 90 days from release of audited financial report?  check Annual Report ( Date posted: November 3,2015)
c. Is the true and fairness/fair representation of the annual financial  statement/reports affirmed by the board of directors/commissioners and/or relevant officers of the company?  check Statement of Management’s Responsibility for Financial Statements

III. Responsibilities of the Board (50%)

11 Corporate Vision/Mission
a. Has the Board of Directors reviewed the vision and mission/strategy in the last financial year?  check During the forging of the PCIC 2015 Performance Agreement with the GCG –Annual Report (See page 18)

Every Planning Conference(annual and mid-year)and operations review.
b. Does the Board of Directors monitor/oversee the implementation of the corporate strategy?  check The Board monitors and evaluates the implementation of the corporate strategies and policies, business plans and operating budgets, as well as Management’s over-all performance through the reports during the Management Committee Meeting which are usually held once a month. This is in compliance with Part 3 Section 3.3.3 of the Manual on Corporate Governance.

Every Planning Conference (annual and mid-year)and operations review.
12 Did the GOCC achieve 90% in the PES?  check Performance Scorecard (2014)
13 Code of ethics or conduct Manual on Corporate Governance
a Are the details of the code of ethics or conduct disclosed?  check See Part 5, 5.1, and 7 of the Manual on Corporate Governance
b. Does the GOCC disclose that all Directors/Commissioners, senior management and employees are required to comply with the code? check See Part 7 Section 3.4 of the Manual on Corporate Governance
c. Does the company disclose how it implements and monitors compliance with the code of ethics or conduct?  check Training and Development Program
14  Does the Board appoint a Nomination and Compensation/Remuneration Committee?  check The Governance Committee covers the functions of the Nomination and Compensation/Remuneration Committee. – Refer to Responsibility (c) of the Governance Committee 
15  Did the Nomination and Compensation/Remuneration Committee meet at least twice during the year?  check The Governance Committee covers the functions of the Nomination and Compensation/Remuneration Committee

Attendance record of Directors in Board and Committee meetings
16  If yes, is the report of the Nomination and Compensation/Remuneration Committee publicly disclosed?  check Board Committee’s Summary of Accomplishments
17  Does the Board appoint an Audit Committee?  check Information on Board Committees and their Activities
18  If yes, is the report of the Audit Committee publicly disclosed?  check Board Committee’s Summary of Accomplishments
19  Does at least one member of the Audit Committee have an audit, accounting or finance background (qualification or experience)?  check  Director Dioscoro A. Granada
20  Did the Audit Committee meet at least four times during the year?  check Attendance record of Directors in Board and Committee meetings
21  Does the Board appoint a Risk Management Committee?  check   Information on Board Committees and their Activities
22  If yes, is the report on Risk Management Committee publicly disclosed?  check Board Committee’s Summary of Accomplishments
23  Does at least one member on Risk Management Committee have a background in finance and investments?  check Director Dioscoro A. Granada
24  Board meetings and attendance
a. Are the Board of Directors meetings scheduled at the beginning of the year(end of Q1)  check Board Policies
b. Does the Board of Directors meet at least monthly?  check Attendance record of Directors in Board and Committee meetings
c. Did the Board of Directors meet on at least 75% on their scheduled meetings?  check The Board was able to meet for 91.67% of their scheduled Regular Board Meeting.
Board Policies
d. Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?  check All appointive Directors were able to attend at least 90% of all the board meetings held on 2014. Attendance record of Directors in Board and Committee meetings.
Board Policies
e. Did the Board of Directors meet separately at least once during the year without the President/CEO present? check On December 11, 2014, the Appointive Directors met after the special Board Meeting without the presence of Atty. Jovy C. Bernabe, the President/Chief Executive Officer of PCIC.
25  Access to information
a. Does the GOCC have a policy that stipulates board papers for Board of Directors/Commissioners meetings be provided to the Board at least three (3) working days in advance of the board meeting?  check Board Policies
b. Is the Board Secretary trained in legal,accountancy or company secretarial practices?  check Board Policies
26  Internal Audit
a. Does the company have a separate internal audit function? check  See PCIC Organization Chart
b. Does the appointment and removal of the internal auditor require the approval of the Audit Committee? check Information on Board
27  Risk Oversight
a. Does the company disclose the internal control procedures/risk management systems it has in place?  check Risk Management System
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?  check Risk Management System
c. Does the company disclose how key risks are managed? check Risk Management System
d. Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting on the adequacy of the GOCC’s internal controls/risk management systems? check Stament on Risk Management and Internal Control
28 Board Chairman
Do different person assume the roles of Chairman and CEO?  check Chairman Dioscoro A. Granada

President Jovy C. Bernabe
29  Board of Directors Development
a Does the GOCC have orientation programmes for new Directors?  check Board Policies
b. Does the GOCC have a policy that  encourages Directors/Commissioners to attend on-going or continuous professional education programmes?  check 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.Board Policies
c. Did all Appointive Directors attend at least 1 training for the calendar year?  check  Biographical details 
30  Committee Appraisal
a. Is an annual performance assessment conducted of the Board of Directors?  check The Board of Directors conducts its annual performance assessment through the Performance Evaluation for Directory System (GCG MC No. 2014-03) developed by the GCG. Directors are made to answer the self-appraisal form and peer-appraisal form through the iped.gcg.gov.ph which increases the level of confidentiality of Director Performance Review results.

It is also mandated under Part 3 Section 9 of the Manual on Corporate Governance

Performance Evaluation For Directors
b. Does the GOCC disclose the process followed in conducting the Board assessment?  check Performance Evaluation For Directors
c. Does the GOCC disclose the criteria used in the Board assessment? check Performance Evaluation For Directors

Appraisal

31 Committee Appraisal
Is an annual performance assessment conducted of the Board of Directors Committees?  check

BONUS

Stakeholder Relationships

1  Does the GOCC practice Global Reporting Index (GRI) on its annual reports?  check

Disclosure and Transparency

Quality of Annual Report
1 Are the audited annual financial report/statement released within 30 days upon receipt from COA? check  Posted September 3, 2015

PENALTY Responsibilities of the Board

1 Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs? check
2 Is there non-compliance with Good Governance Conditions? check