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The rainy season in the Philippines, spanning from June to November, brings a host of challenges, from heavy downpours and flooding to landslides and storm surges. As a tropical archipelago, the country is particularly vulnerable to typhoons and other weather-related hazards and as such, safety during the rainy season is crucial to protecting lives and property.

Because of this, we at Pacific Union would like to share some essential tips on how to stay safe, including preparation measures, and emergency responses, which aim to help residents navigate the often unpredictable and severe weather conditions typical of this time of year.

Stay Informed

One of the best ways to stay safe during this rainy season is to stay informed and keep up-to-date with the latest happenings. Tune in to your local TV or radio station, check the Internet for credible news, and read the latest reports from your local authorities. At the same time, take note of all the necessary hotlines in the event of an emergency. 

Avoid Flooded Areas

Another safety measure is to avoid flooded areas whether on foot or driving your vehicle. Stay clear of flood water as it can contain hidden hazards or contaminants that can lead to disease and poor health.

Drive Safe

While on the road, make sure to drive at a reasonable and safe pace for the safety of you, your passengers, and other motorists. Remember to stay cautious, especially during times when the weather can lead to little to zero visibility as these can hinder your vision and lead to potential collisions.

Prevent Disease

The rainy season can increase the risk of waterborne diseases such as cholera, dysentery, hepatitis A, typhoid, and more. To prevent such illnesses, drink only clean and filtered water and avoid at all costs food that has been exposed to floodwaters. Staying vigilant at situations like these can help avoid a trip to the hospital. 

Emergency Kits

Last but not least, make sure to have emergency kits or go-bags ready for urgent situations. Ready items such as your cellular phone, first-aid kit, flashlight, non-perishable food, and other essentials you might need in the event of an emergency. 

Judicial Bond Explained

A judicial bond is a class of surety bonds that is required by the Courts and/or administrative bodies clothed with quasi-judicial powers in connection with the judicial proceedings before them. Most of these are continuing in nature as they cannot be canceled unless the Courts declare otherwise.

Heir’s Bonds

An heir’s bond guarantees the protection of any heir or person who has been deprived of his lawful participation in the estate and/or any creditor who has a claim against the estate which has not been paid. It is posted by the known heirs who seek to distribute the registrable properties under their respective names. 

This bond also has several key functions and liabilities. The first is to allow the transfer of registrable properties to the transferee while the second is to answer for the share of the disenfranchised heir. 

Contact Us Today

To know more about surety bonds and their basic definitions, check out our previous article on surety bonds as we provided an overview for them. We’ll also be discussing the topic of customs bonds in the near future! But if you would like to know even more, feel free to contact us at our various social media platforms, website, email, and landline. 

Definition of Customs Bond

As the name implies, a customs bond is a bond issued in favor of the Bureau of Customs in accordance with the Revised Tariff and Customs Code of the Philippines or orders issued by the Commissioner of Customs. 

Purpose of Customs Bond

Customs bond is required principally to protect government revenue, insure the collection of customs duties, internal revenue taxes, and other charges due on imported articles, and compliance with the rules, regulations, and orders promulgated by the Commissioner of Customs in connection with the importation and warehousing of such articles, and the collection of duties, taxes and other charges due thereon.

Classifications of Customs Bond

a) Ordinary or Single Shipment Bond

This class of customs bond is required to cover a single transaction or articles imported under one shipment only.

Example: Ordinary Re-Export bond which covers only one shipment of imported articles.

b) General Bond

This class of customs bond is required to cover numerous transactions or articles imported under several shipments made within a certain period of time, usually one calendar year. This is specifically authorized by the Tariff and Customs Code, to wit:

Section 3504. “General Bonds, When Required – In cases where bonds are required to be given under the provisions of the Customs and Tariff Laws, the Collector, instead of requiring separate special bonds where the transactions of a particular party are numerous, may accept general bond extending over such periods and covering such transactions of the party in the questions as shall be satisfactory to said Collector.”

c) Chargeable Bond

This form of general bond covers numerous importations or transactions or entries within a certain period, except that the liquidation of any entry is chargeable against the bond and the canceled portion of the bond is re-usable by the importer in his subsequent before expiration of the bond.

Example: General Bond for Bonded Manufacturing Warehouse

Surety bonds are financial instruments that play a critical role in a variety of industries by ensuring contractual obligations are met. They involve a three-party agreement among the obligee (the party requiring the bond), the principal (the party required to perform a contractual obligation), and the surety (the party guaranteeing the principal’s performance).

If the principal fails to fulfill their duties, the surety steps in to compensate the obligee, providing a safety net that mitigates risks associated with non-performance or default. Commonly used in construction, business licensing, and legal matters, surety bonds help maintain trust and financial stability within these fields.

Here at Pacific Union, we offer a wide range of surety bonds that will be a help for you and your business.

Definition

To first know about surety bonds, the first thing to note is that there are two main types: judicial and non-judicial. Judicial bonds refer to the class of bonds that are posted in compliance with a court order, the Rules of Court, or statute. On the other hand, non-judicial bonds refer to the class of bonds that are posted in compliance with a private contract. 

For this article, we’d like to focus on a contractor’s bond whose main undertaking is to guarantee the performance of an obligation of contractors engaged in any of the following fields: 

• Construction
• Supply and Delivery
• Services

Here, then, are the commonly issued contractor’s bonds. 

Bidder’s Bond

Undertakes to guarantee that the successful bidder, within a specified period from the date of receipt of the Notice of Award, shall

1. Enter into a contract with the Obligee
2. Furnish a performance bond for the faithful and complete prosecution of the work specified in the contract. 

This surety bond’s primary function is to answer for the cost of conducting another bidding and answer the cost of the difference between the winning bid and the next lowest complying bid.

Downpayment Bond

Next up are downpayment bonds which guarantee the recoupment or repayment of the advance payment granted to the Principal through deductions from progress billings submitted by the contractor for his periodic accomplishments. Usually, it is 15 percent of the Total Contract Price or 100 percent of the downpayment.

Ultimately, its function is to reimburse the Obligee for the cost of the un-liquidated advance payment at the time of rescission of the Principal Contract. 

Performance Bond

This bond ensures the construction and completion of a project in accordance with the approved plans, specifications, and terms and conditions of the contract. It may also guarantee the principal’s obligations under a supply and delivery and/or installation contract with respect to equipment, materials, supplies, and similar items. It is also usually 10 – 30 percent of the Total Contract Price. 

A performance bond’s liability as well is pay for the additional cost to complete the project. The additional cost of completion is equivalent to the difference between the contract cost to complete the project under the new contractor and the cost of completing the project under the old contractor. 

Retention Bond

A bond that replaces the retention money that is typically withheld from the contractor’s payments, and secured during the construction phase, to ensure they complete the project and fix any defects during the defect liability period.

Warranty Bond

Finally, a warranty or guaranty bond ensures the correction and repair of hidden defects in the materials and workmanship used by the Principal in the project found or becoming evident within one year from: 

1. The date of final acceptance of the project, or
2. Within one (1) year or other prescribed period from the date of final and substantial completion or provisional acceptance of the project. 

To know even more about surety bonds, feel free to contact us today at our website, email, landline, or any of our social media platforms. 

In the Philippines, there is an estimated amount of 12,000 casualties due to road accidents with a death rate of 5.6 per 1000 people that were reported in 2022. And as we live in an unpredictable world full of surprises and turns, we must be aware of the common accidents in the Philippines. Pacific Union would then like to share some of the most common examples of accidents in the country and the reasons why they happen. 

Vehicle Collisions

Road accidents are a significant concern in the Philippines due to several factors such as heavy traffic, poorly maintained roads, and reckless driving from motorists. These, throughout time, have led to vehicle collisions, injuries, and even death. Because of this, obey all traffic regulations at all times and make sure that your vehicle is properly maintained. 

Burns and Scalds

Burns and scalds are another cause of accidents here in the country. These are incidents involving fire, hot liquids, or steam that occur at home and in the workplace. Always stay vigilant to prevent burns and scalds, and in the event of injury, seek professional treatment.

Falls

Falls can occur in different settings, from the workplace to the outdoors, to even your home. They often result from slippery floors, uneven surfaces, poor lighting, or accidents that occur when ascending or descending from stairs. These accidents can lead to serious injuries such as sprains, broken bones, and internal bleeding.

Workplace Accidents

These types of accidents are common in various industries including construction, agriculture, and transportation. These usually occur due to malfunctions, falls, and other occupational hazards.

Forces of Nature

Finally, the Philippines is prone to several natural disasters from typhoons, floods, earthquakes, and more which happen at a regular basis. Events like these can cause serious property damage, injury, and even loss of life. 

Ultimately, all of these are the major accidents that occur in the Philippines, and knowing these, we’d like to remind everyone to stay vigilant, be alert, and keep safe at all times. But keeping safe and these reminders are just a precaution; what happens when accidents like these do occur?

Thankfully, we at Pacific Union would like to offer each and every one our Personal Accident Insurance to help you and your family when accidents occur. For more information, contact us today through any of our social media platforms (Facebook, Instagram, LinkedIn), our landline 8845 1033, or our website at www.puicinsurance.com to learn more on how we can protect you and what matters most. 

Related Article:
DOH seeks reduction of increasing road traffic incidents

Our daily lives can be an unpredictable one, one filled with danger and turns where anything can happen. And so to protect you and what matters most, Pacific Union would like to offer our Personal Accident Insurance

But what is Personal Accident Insurance in the first place? 

This insurance policy provides financial compensation in the event of an accidental injury or death. Through this, you and your family will be protected from the financial burdens of the unpredictable landscape we’re living in. 

Insurance Benefits 

Loss of Life and Limbs

One of the benefits of our insurance policy is compensation in the event of death, permanent disability, or loss of limbs resulting from an accident. Through our insurance policy, the insured will receive the proper compensation based on what is covered in our table of benefits which you can learn more by contacting us today. 

Weekly Indemnities

For this benefit, weekly indemnities are periodic payments made to the insured in the event of temporary disability that prevents them from working. With this, our clients can rest safe and sound as they can receive payments even when unable to perform their duties at work.

Medical Reimbursement

Another benefit of our personal accident insurance is the reimbursement of medical expenses incurred due to injuries sustained in an accident. So whether its hospitalization or treatment of injuries, our insurance policy will be here to cover your medical expenses.

Murder and Assault

For this case, compensation is provided at times when the insured suffers injury or death in the event of an unprovoked murder and assault – therefore protecting you and your loved ones once again financially.

Burial Benefits

Finally, burial benefits are the financial assistance for funeral expenses in case of the insured’s death due to an accident.

PAGASA recently reported that 23 areas in the Philippines could experience dangerous heat levels with a high heat index of 42 to 44 degrees Celsius. With temperatures rising today and the scorching heat continuing, Pacific Union would like to present some safety tips to keep you safe during the summer season. 

Stay Hydrated

The importance of water and staying hydrated has never been understated, especially with the current climate. Whether indoors or outside, make sure to have a water bottle to stay hydrated and drink plenty of fluids. And as a way to contribute to the betterment of our environment, we’d like to suggest bringing a reusable water container while on the go.

Wear Protective Clothing

Despite the heat, it is still important to wear protective clothing that helps you block the sun’s harmful rays. Make sure your body is covered with light and comfortable clothes and wear light colors that can help bounce off the sunlight. Aside from clothing, you can also wear other protective garb such as caps or hats.

Apply Sunscreen

One of the best ways to combat the sun, sunscreen is a key item during the summer season. At the start of the day, make sure to apply sunscreen with an SPF of 30 or higher and take note of when the effects of the sunscreen will wear off so you can reapply later during the day. Applying this can prevent sunburn and protect your skin from the high heat.

Seek Shade

Another helpful tip for the summer season is to seek shade as much as possible. You can take shelter through trees, buildings, indoors, or even bring your own shade by taking an umbrella with you wherever you go.

Avoid Heat Stress

Heat stress is a serious condition that can happen when exposed to the high temperatures of the sun. Make sure to take note of the symptoms such as dizziness, weakness, and fatigue as you may be experiencing heat stress. Knowing the warning signs may be the difference between life and death.

Related Article:
23 areas nationwide to experience high temperatures

Want to protect your vessel? Pacific Union’s Hull Insurance is designed to protect you and your vessel from different kinds of vessels. As mentioned previously, there has been a reported Php 738.68 million losses for maritime and aviation insurance here in the Philippines last 2020. And as the world grows more unpredictable day by day, the need for hull insurance has never been more necessary.

Here, then, are some of the benefits of availing your insurance policy today! 

Financial Protection

A big benefit of hull insurance is just like all kinds of non-life insurance, it is designed to protect you financially. Hull insurance covers ship damage expenses against material/physical damage and liabilities arising from the perils of the sea, extraneous perils, war risks, and other allowed perils. 

Generally, it covers the hull, machineries, boilers, materials and outfits, stores, provisions, and fittings.

Liability Coverage

Covers liability for other vessels or property damage, bodily injury to passengers, crew, or third parties. Marine hull insurance also provides coverage for pollution caused by vessels. 

Salvage Charges

These are charges/expenditures that are incurred in the process of recovering a ship and its cargo after a shipwreck or other maritime casualty.

Sue and Labor Charges

It is the provision that spells the duty of the Assured and their servants in respect of loss recoverable under the policy to take such measures as may be reasonable for averting or minimizing such loss and to ensure that all rights against carriers, bailees, or other third parties are properly preserved and exercised.

Running Down Clause

Running clause or 3/4th collision liability clause in marine hull insurance offers a shipowner with some kind of coverage which is necessary in case of third-party liability in the event of a collision. It is a clause within a marine insurance policy that offers legal coverage if the insured vehicle collides with another vessel.

Flexible Options

Another big benefit of hull insurance is the flexibility we provide to our customers – these policies can be tailored to suit the specific needs of different types of vessels and operations. So our customers can feel safe and sound knowing they’d be able to choose a time policy (covers for a year) or a voyage policy (covers the entire voyage from one point to the final destination). Coverage options also include hull damage, machinery breakdown, liability protection, and more. 

Regulation Compliance

Just like marine cargo insurance, many jurisdictions require vessels to have hull insurance to operate legally. By availing hull insurance, shipowners can feel free by complying with certain regulations, saving them time and avoiding legal penalties. 

Pacific Union’s Margo Cargo Insurance is designed to protect you from the financial risk of transporting goods via land, sea, and air. But what exactly are these dangers and how do we define them? Here, then, are the Marine Cargo Insured Perils for everyone’s reference.

Perils of the Sea

Collision

Collision occurs during physical impact between two ships which results in a damaging accident. At the same time, it can also occur between a ship and a stationary object such as an iceberg or a port. 

Fire

Fire is defined as direct fire loss or caused by fire or lightning attributed to negligence. This includes damage done by measure to extinguish the fire. (ex. Water damage)

Stranding

This happens when forced by accidental causes to take ground and stay aground within a reasonable time. 

Shipwreck

A shipwreck is when a vessel is driven to shore by violent winds and/or waves that cause destruction or loss of the said vessel. 

Foundering

Occurs when vessel is filled with water and sinks.

Jettison

This refers to the throwing of a ship’s cargo or gear as a measure to preserve the ship and cargo from loss in time of common danger. 

Barratry

Barratry is defined as every wrongful act willfully committed by the master and crew to the prejudice of the owner of the ship, or the owner of the cargo. 

Pirates, Rovers & Thieves

Finally, rovers and pirates are persons without legal commission who plunder vessels indiscriminately on the high seas. Thieves refer to the persons who use violence to commit robbery. This does not include ordinary theft or pilferage. 

In-Land Perils

Basic Coverage

In-Land Basic Coverage covers multiple perils which include:

• Accident fire whether internal explosion or self-ignition

• Lightning
• Explosion
• Collision
• Overturning or upset of the conveyance
• Collapse or subsidence of bridge
• Flood
• Storm
• Cyclone
• Mishandling during actual loading and unloading
• Breaking into conveyance whilst conveyance is parked overnight

Robbery & Thievery (Extension)

Robbery is defined as the felonious act of taking property through the use of violence and intimidation. On the other hand, thievery refers to the unlawful or violent seizure by armed persons of the scheduled conveyance.

Pacific Union believes in its core values and among them is the values of Continuous Excellence and Empowerment. For the former, we believe in performing to the best of our ability, always striving to process and produce our work with the best standards. For the latter, on the other hand, we believe in our workforce – where each member of the team is valued and inspired to work as a collective whole.

And so one of the latest innovations created by Pacific Union’s management was to create a program that would help our Head Office – one that would teach them various skills and insights that could help them both in their personal and professional space.

This led to the creation of the Support Education Program: Pacific Union’s monthly training designed to foster each member of the team into becoming the best they can be. These sessions take place every Friday and once a month where over the course of two hours, a highly qualified instructor teaches our team different lessons and skills. This is an optional yet highly informative seminar, covering topics such as customer service, time management, Ikigai, and many more.

As a bonus to our Head Office, the seminar provides food and drinks while there is a raffle every session. There is even a grand prize given to a select few who manage to attend every session of the Support Education Program. In short, the 2023 SEP was a big success for Pacific Union – gathering different members of our various departments where they have been imparted with invaluable information.

This 2024, Pacific Union continues the Support Education Program, this time with the goal of a more holistic approach and a broader range of topics. This year’s SEP will be covering topics such as the Victor vs. Victim Mindset, customer service etiquette, and more to come that will surely be a huge help to every member of the team.