By Lawrence Agcaoili

State-run pension fund manager Government Service Insurance System is set to roll out its nationwide compulsory third party liability insurance scheme for motor vehicle starting today.

GSIS president and general manager Winston Garcia told reporters that motor vehicle owners would now only have to go to any branch of the Land Transportation Office without having to worry about their insurance policies.

Garcia said vehicle owners planning to register their cars would automatically get a CTPL insurance coverage.

CTPL is a mandatory insurance required prior to the registration or renewal of registration of motor vehicles. It provides an insurance coverage worth P100,000 for death,or bodily injuries, and protects vehicle owners from damage to the public in case of accidents

Garcia said the registration fee would cover the insurance cost ensuring that proper taxes are remitted to the government coffers.

The GSIS scheme aims to eliminate fixers and the proliferation of fake CTPLs as the state-pension fund manager, through National Reinsurance Corp. of the Philippines, will provide accident insurance to motor vehicles nationwide.