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CBIC Marks 55th Year

Country Bankers Insurance Corporation (CBIC) reaffirms its commitment as a trustworthy ally of Filipinos as it marks its 55th founding anniversary. A thanksgiving mass by Rev. Fr. Edric Beducal followed by lunch for all employees was held last October 19, 2015 to celebrate this occasion. CBIC was also featured in a one-page supplement in Manila Bulletin on October 19 which highlighted its history and product offerings.

CBIC is the non-life arm of Country Bankers Insurance Group (CBIG). Remaining competitive through the years with product innovations that are relevant to the needs of its core market, CBIC’s popular products include fire insurance which includes coverage on allied perils such as earthquake, typhoon, and flood; personal accident (PA) insurance which covers accidental death and disablement for families, individuals, students, workers, etc.

Established by rural bankers for small business entrepreneurs, farmers, fishermen, who were untapped markets in the 1960s, CBIC started operating under the helm of Jose E. Desiderio Sr. after he saw the need for an insurance company that would cater to borrowers of rural banks i.e. farmers, public school teachers, market vendors, etc.

“My grandfather, Jose E. Desiderio Sr., felt the need to serve farmers, fishermen, teachers, employees, and small and medium business owners who had limited access to insurance,” said Geraldine Desiderio-Garcia, senior vice president and general manager of CBIG. “Since then, we have consistently offered products that are only simple, affordable and relevant. Our more than five decades of successful operation is a testament to that commitment.

CBIC has also expanded its product offering to include Marine Cargo, covering movable property against marine hazards and other perils during transportation, and Comprehensive General Liability (CGL), covering business against legal liability to third parties arising from hazards in the conduct of business activities, among others.

“CBIC works on increasing its distribution channels and finding more creative ways to expand its market. We remain committed to paying our claims as soon as possible, which is what we are most proud of in our 55 years in business,” Garcia said.