TRECE MARTIRES CITY — A group of insurance companies has formed an alliance called the Environmental Insurance Alliance (EIA) and has appointed and designated Stronghold Insurance Co. as the lead writing company for bonds and liability insurance required under the mandatory environmental insurance coverage (MEIC) program of the national government.
The EIA is composed of 61 insurance companies accredited by the Department of Environment and Natural Resources (DENR) to participate in the MEIC.
Earlier, the DENR has adopted the MEIC to replace the Environmental Guarantee Fund (EGF) to give the government a more effective system of protecting and managing the environment.
DENR Secretary Michael Defensor has issued an order to all regional directors of Environmental Management Bureau (EMB) to fully implement the MEIC before the year ends.
EMB Region 4-A has already initiated the holding of a seminar for pollution control officers in compliance with Defensor’s order.
This is being organized in cooperation with Stronghold and First Cavite Industrial Estate (FCIE). The seminar is set to be held on Dec. 12 at the Board Room, 2nd Floor Administration Bldg., FCIE, inLangkaan, Dasmarinas, Cavite.
Sixto E. Tolentino Jr., EMB Region 4A director, said proponents of new industries and projects are required to secure the MEIC before they can be issued an Environmental Compliance Certificate (ECC). The latter is required by the DENR before the start of any construction or modification of new and existing industries or projects.
"The scheme will provide for an adequate and timely environmental rehabilitation, clean-up, remediation and protection for the affected communities and residents," Tolentino said.
Stronghold explained that liability insurance will be premised on any intentional or accidental release of pollutants or contaminants and environmental impairment. This results when the owner or project proponent fails to observe environmental laws or standards or comply with the terms and conditions specified in the environment management plan. (DV)
