Today Is 
 


 QUESTION                     
 YES  NO                   LINK           SOURCE      LINK                                     
 1. Does the GOCC disclosure a policy that:
         
 a. Stipulates the existence and scope of its effort to address customer's welfare?
    Section 11 - Corporate Social Responsibility (CSR) and Relations
with Stakeholders
C. Formal Recognition of Stakeholders
4. Customers
 Manual on Corporate Governance, page 25  http://lbp-insurance.com/CODECORGOV.pdf#page=25
 b. Elaborates its efforts to interact with the communities in which they operate?
    Section 11 - Corporate Social Responsibility (CSR) and Relations
with Stakeholders
C. Formal Recognition of Stakeholders
4. Community
Manual on Corporate Governance, page 25   http://lbp-insurance.com/CODECORGOV.pdf#page=25
 c. Ensure that its value chain is environmentally friendly or is consistent with promoting sustainable development?
    Section 11 - Corporate Social Responsibility (CSR) and Relations
with Stakeholders
C. Formal Recognition of Stakeholders
4. Environment
 Manual on Corporate Governance, page 26  http://lbp-insurance.com/CODECORGOV.pdf#page=26
 2. Does the GOCC disclose the activities that it has undertaken to implement the abovementioned policies?
         
 a. Customer health and safety
    SO2: Improve Service Delivery
SM 2: Customer Satisfaction Survey of 2016 Performance Agreement
 2016 Target / MFO's  http://lbp-insurance.com/target2016.pdf#page=1
 b. Interaction with the communities
    Corporate Social Responsibility -
Membership to Manila Bay S.U.N.S.E.T Partnership Program (MBSPPI)
 Annual Report 2016, page 38  http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=38
 c. Environmentally-friendly value chain
    Corporate Social Responsibility -
Donation to Landbank Countryside Development Foundation, Inc. (LCDFI)
 Annual Report 2016, page 39  http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=39
 3. Does the GOCC have a separate Corporate Social Responsibility (CSR) report/section or sustainability report/section?
    Corporate Social Responsibility (CSR)  Annual Report 2016, page 37-39  http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=37
 4. Where stakeholders interests are protected by law, stakeholders should have the opportunity to obtain effective redress for violation of their rights
         
 a. Does the GOCC provide contact details via the company's website or Annual Report which stakeholders ( e.g. customers, suppliers, general public, etc.) can use to voice their concerns and/or complaints for possible violation of their rights?
     LIBI Contact Us  1. Annual Report 2016, page 85

2. Contact Us Page
 http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=85

http://lbp-insurance.com/index5.html
 5. Performance-enhancing mechanisms for employee participation should be permitted to develop.
         
 a. Does the GOCC explicitly mention the health, safety and welfare policy for  its employees?
    I. Section 11 - Corporate Social Responsibility (CSR) and Relations
with Stakeholders
C. Formal Recognition of Stakeholders
2. Employee
II. Health, Safety and Welfare Services
 1. Manual on Corporate Governance, page 24

2. Annual Report 2016, page 28
 http://lbp-insurance.com/CODECORGOV.pdf#page=24

http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=28
 b. Does the GOCC publish data relating to health, safety and welfare of its employees?

  I. Section 11 - Corporate Social Responsibility (CSR) and Relations
with Stakeholders
C. Formal Recognition of Stakeholders
2. Employee
II. Health, Safety and Welfare Services
 1. Manual on Corporate Governance, page 24

2. Annual Report 2016, page 28
 http://lbp-insurance.com/CODECORGOV.pdf#page=24

http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=28
 c. Does the GOCC have training and development  programmes  for its employees?
     V. Employee Development
2. Training
 Personnel Manual, page 28  http://lbp-insurance.com/PersManual.pdf#page=28
 d. Does the GOCC publish data on training and development programs for its employees?
     Management and Human Resources Annual Report 2016, page 27
 http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=27
 6. Stakeholders including individual employee and their representative bodies should be able to freely communicate their concerns about illegal or unethical practices to the board and their rights should not be compromised for doing this.  
         
 a. Does the GOCC have procedures for complaints by employees concerning illegal (including corruption) and unethical behavior?
     Guidelines on Whistleblowing and Reporting Whistle Blowing Policy
 http://www.lbp-insurance.com/WHISTLEBLOWING.pdf
 b. Does the GOCC have procedures to protect an employee/person who reveals illegal/unethical behavior from retaliation?
     Guidelines on Whistleblowing and Reporting
Whistle Blowing Policy 
 http://www.lbp-insurance.com/WHISTLEBLOWING.pdf
 7. Quality of the Annual Report. Does the GOCC's AR disclose the following items:
         
 a. Corporate Objectives

   2016 Performance Scorecard
Annual Report 2016, page 13
 http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=13
 b. Financial performance indicators

   Financial Highlights
Annual Report 2016, page 29-32
 http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=29 
 c. Non-financial performance indicators

   2016 Performance Scorecard
Annual Report 2016, page 13
 http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=13
 d. Details of whistleblowing policy

    Guidelines on Whistleblowing and Reporting Whistle Blowing Policy     http://www.lbp-insurance.com/WHISTLEBLOWING.pdf
 e. Biographical details (directors)

  The LIBI Board of Directors (BOD)
Annual Report 2016, page 74-84
 http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=74
 f. Trainings or continuing education (directors)
    Training and Continuing Education by the Board
Annual Report 2016, page 16
 http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=16
 8. Are the Annual Reports downloadable from the GOCC's website?
    Corporate Governance Page
Corporate Governance
 http://lbp-insurance.com/corpgov.htm
 9. Corporate Governance Confirmation Statement
         
 a. Does the AR contain a statement confirming the company's full compliance with the code of corporate governance and where there is non-compliance, identify and explain reasons for each such issue?
    Highlights of Activities & Initiatives - 2016
Annual Report 2016, page 30
 http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=30
 10. Timely filing/release of annual/financial reports
         
 a. Are the audited annual financial report/statement released within 60 days upon receipt from COA?
    Financial Statements 2016
Date received from COA: April 19, 2017
Date posted: April 24, 2017
Audited Financial Statement
http://lbp-insurance.com/FS2016.pdf
 b. Is the Annual Report released within 90 days from the release of the audited financial report?
 
Annual Report 2016
Date posted: November 29, 2017
Annual Report 2016
http://lbp-insurance.com/corpgov.htm
 c. Is the true and fairness/fair representation of the annual financial statement/reports affirmed by the board of directors/commissioners and/or the relevant officers of the company?
  Statement of Management's Responsibility for Financial Statement
Annual Report 2016, page 43
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=43
 11. Corporate Vision/Mission
         
 a. Has the Board of Directors reviewed the vision and mission/ strategy in the last financial year?
    Board in Action
Board Resolutions
Annual Report 2016, page 11
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=11
 b. Does the Board of Directors monitor/oversee the implementation of the corporate strategy?
    Board in Action
"The Board of Directors in its first meeting for 2016 set the calendar of Board meeting every 4th week of the month."
Annual Report 2016, page 11
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=11
 12. Did the GOCC achieve 90% in the PES?
    Performance Scorecard (PES Form 2016)
2016 Target / MFO's
Total of 91.13% achievement
1. Performance Scorecard 2016

2. 2016 Target / MFO's
StrategyMap-PES2016.pdf
 13. Code of ethics or conduct
         
 a. Are the details of the code of ethics or conduct disclosed?
    Code of Conduct Code of Conduct
http://lbp-insurance.com/codeofconduct1.pdf
 b. Does the GOCC disclose that all Directors/Commissioners, senior management  and employees are required to comply with the code?
    Management and Human Resources
"LIBI employees and Board of Directors had received, read and understood the Code of Conduct by accomplishing the Code of Conduct Compliance Commitment Certificate."
 Annual Report 2016, page 27 http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=27
 c. Does the company disclose how it implements  and monitors compliance with the code of ethics or conduct?
    Management and Human Resources
"LIBI employees and Board of Directors had received, read and understood the Code of Conduct by accomplishing the Code of Conduct Compliance Commitment Certificate."
Annual Report 2016, page 27
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=27
 14. Does the Board appoint  a Nomination Compensation/Renumeration Committee?
    Nomination and Remuneration Committee
 Annual Report 2016, page 22-23 http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=22
 15. Did the Nomination Compensation/Remuneration Committee meet at least twice during the year?  
  Nomination & Remuneration Committee Meeting
14 meetings held
Annual Report 2016, page 23
 http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=23
 16. If yes, is the report of the Nomination Compensation/Renumeration Committee publicly disclosed?
    Nomination & Remuneration Committee Activities
Annual Report 2016, page 23 http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=23
 17. Does the Board appoint  an Audit Committee?
    Audit Committee
Annual Report 2016, page 19-20
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=19
 18. If yes, is the report of the Audit Committee publicly disclosed?
    Audit Committee Activities
Annual Report 2016, page 20
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=20
 19. Does at least one member of the Audit Committee have an audit, accounting or finance background  (qualification  or experience)?
    Velasco Profile
Professional and Civil Service Eligibilities
Annual Report 2016, page 76
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=76
 20. Did the Audit Committee meet at least four times during the year?
    Audit Committee Meetings
4 meetings held
Annual Report 2016, page 20
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=20
 21. Does the Board appoint a Risk Management Committee?
    Risk Management Committee
Annual Report 2016, page 24
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=24
 22. If yes, is the report on Risk Management  Committee publicly disclosed?     Risk Management Committee Meetings and Activities
2 meetings held
Annual Report 2016, page 24 
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=24 
 23. Does at least one member of the Risk Management  Committee have a background  in finance and investments?
     Daisy M. Macalino Profile
Teresita E. Cheng Profile
 Annual Report 2016, page 82,84 http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=82
 24. Board meetings and attendance
         
 a. Are the Board of Directors meetings scheduled at the beginning of the year? (end of Q1     "The Board of Directors in its first meeting for 2016 set the calendar of Board meeting every 4th
week of the month. "
Annual Report 2016, page 11
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=11
 b. Does the Board of Directors meet at least monthly?
    Board Performance and Attendance
Director's met monthl
Annual Report 2016, page 15
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=15
 c. Did the Board of Directors meet on at least 75% on their scheduled meetings?
    Board Performance and Attendance
Percentage (%) Column
Annual Report 2016, page 15 http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=15
 d. Has each of the directors/commissioners attended at least 90% of all the board meetings held during the year?
    Board Performance and Attendance
Percentage (%) Column
Annual Report 2016, page 15 
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=15
 e. Did the Board of Directors meet separately at least once during the year without the President/CEO present?     "The Board of Directors was able to hold a meeting without the President & CEO at least once during the year which
happens on January 28, 2016."
Annual Report 2016, page 15  
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=15
 25. Access to information          
 a. Does the GOCC have a policy that stipulates board papers for Board of Directors/Commissioners meetings be provided to the Board at least three (3) working days in advance of the board meeting?
    Material Submission of Board of Directors Meeting Annual Report 2016, page 14
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=14
 b. Is the Board Secretary trained in legal, accountancy or company secretarial practices?
    Atty. Reynauld R. Villafuerte Profil
Annual Report 2016, page 77
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=77
 26. Internal Audit          
 a. Does the company have a separate internal audit function?
     None    
 b. Does the appointment  and removal of the internal auditor require the approval of the Audit Committee?
     None    
 27. Risk Oversight
         
 a. Does the company disclose the internal control procedures/risk management  systems it has in place?
    Material Risk Factors & Measures  to Manage Risks
Risk Management Manual
http://lbp-insurance.com/material%20risk.pdf
 b. Does the Annual Report disclose that the board of Directors/Commissioners have conducted a review of the company's material controls (including operational,  financial and compliance controls) and risk management  systems?
    Board Resolution
"2016-008-027 -  Proposal of Director Teresita Cheng regarding the Identified Risks for the Risk Management Manual of LIBI"
Annual Report 2016, page 12
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=12
 c. Does the company disclose how key risks are managed?
    Material Risk Factors & Measures  to Manage Risks
Risk Management Manual 
http://lbp-insurance.com/material%20risk.pdf 
 d. Does the Annual Report contain a statement from the Board of Directors or Audit Committee commenting  on the adequacy of the GOCC's internal controls/risk  management  systems?
    Risk Committee Activities and Audit Committee Activities:
"2016-008-027 - Proposal of Director Teresita Cheng regarding the Identified Risks for the Risk Management Manual of LIBI"
"2016-011-037 - Proposed LIBI Risk Management Manual"
Annual Report 2016, page 12,20,24
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=12
 28. Board Chairman
         
 a. Do different persons assume the roles of Chairman and CEO?
    The LIBI Board of Directors
Annual Report 2016, page 74-75
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=74
 29. Board of Directors Development
         
 a. Does the GOCC have orientation programmes  for new Directors?
    Training and Continuing Education by the Board
Annual Report 2016, page 16
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=16
 b. Does the GOCC have a policy that encourages Directors/Commissioners to attend on-going or continuous professional  education programmes?
    Training and Continuing Education by the Board
Annual Report 2016, page 16
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=16 
 c. Did all Appointive Directors attend at least 1 training for the calendar year?
    Training and Continuing Education by the Board 
Annual Report 2016, page 16
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=16  
 30. Board Appraisal
         
 a. Is an annual performance  assessment  conducted of the Board of Directors assessment?
    Board Assessment and APPRAISAL
"Complied through GCG iPED website"
1. Annual Report 2016, page 25

2. Performance Evaluation for Directors (iPED) System
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=25


http://iped.gcg.gov.ph/


 b. Does the GOCC disclose the process followed in conducting the Board?
    Board Assessment and APPRAISAL
"Complied through GCG iPED website" 
1. Annual Report 2016, page 25

2. Performance Evaluation for Directors (iPED) System
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=25


http://iped.gcg.gov.ph/
 c. Does the GOCC disclose the criteria used in the Board assessment?
    Board Assessment and APPRAISAL
"Complied through GCG iPED website"  
1. Annual Report 2016, page 25

2. Performance Evaluation for Directors (iPED) System
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=25


http://iped.gcg.gov.ph/
 31. Committee Appraisal
         
 a. Is an annual performance  assessment  conducted of the Board of Directors Committees?
    Board Assessment and APPRAISAL
"Complied through GCG iPED website"
1. Annual Report 2016, page 25

2. Performance Evaluation for Directors (iPED) System
http://www.lbp-insurance.com/2016ANNUALREPORT.pdf#page=25


http://iped.gcg.gov.ph/
 BONUS
         
 Stakeholder's Relationship: Does the GOCC practice Global Reporting Index (GRI) on its annual reports?
    None
   
 Disclosure and Transparency: Are the audited annual financial report/statement released within 30 days upon the receipt from COA?     FS 2016
Date received from COA: April 19, 2017
Date posted: April 24, 2017
Audited Financial Statement
http://lbp-insurance.com/FS2016.pdf
 PENALTY
         
 Responsibilities of the Board
         
 a. Are there members of the Board of Directors who hold more than five (5) positions in GOCCs and PLCs?
    None 
   
 b. Is there non-compliance with Good Governance Conditions?
    None