FPG offers insurance for cycling, moto clubs

June 11, 2023

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FPG INSURANCE is rolling out two new group insurance plans covering members of motorcycle and bicycle clubs. The plans, named MyCyclingClub Mate for cyclists and MyMotoClub Mate for bikers, are designed primarily to promote road safety awareness. As insurance instruments, both plans cover accidental death, permanent disability, medical reimbursement and third-party liability, among other benefits, after an accident when using a motorcycle or bicycle.

FPG’s new insurance plans are a timely response to the surge in the popularity of cycling and biking since the pandemic began. Especially since, unfortunately, the rising number of bicycles and motorcycles on the road comes with higher risks of accidents. During the same period, the Metro Manila Accident Reporting and Analysis System (MMARAS) reported that the number of bicycles involved in road accidents doubled from 2018 and 2019 to 2020. Some 2.1 million bikes were imported here in 2020, up 112% from 2019. As for motorcycles and scooters, available data showed the Philippines posted the fastest growth at 32.3% to 867,453 units in 2021 from 655,440 units the previous year. According to the MMARAS report, the Metropolitan Manila Development Authority (MMDA) recorded a total of 26,768 motorcycles involved in road accidents in 2021 — an increase of 1,560 over the previous year.

Both FPG programs cover bodily injuries caused by an accident anywhere in the world, whether insured is at home or while traveling by land or sea or while riding as a passenger on commercial flights. It even covers dog bites, snake bites, drowning, and natural calamities.

Common provisions of the plans include accidental death, disablement/dismemberment, unprovoked murder and assault endorsement, accidental medical reimbursement, daily hospital income benefit due to accident, fire assistance benefit, and personal liability plan.

For an annual premium of P200, policyholders will get up to P100,000, to cover the cost of the insured’s accidental death. The target market is comprised of motorcycle or bicycle clubs with at least 20 members aged between 18 to 65 years old. The insured must declare their permanent residence address upon issuance.

FPG Insurance celebrates its 65th anniversary on June 5, with a special collaboration with Ayala for the Green Run marathon on June 25. For more information about MyCyclingClub Mate and MyMotoClub Mate, visit FPG Insurance’s website at https://www.fpgins.com.