LBP INSURANCE BROKERAGE, INC.

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