The brewing labor dispute at FLT Prime Insurance Corporation was settled through conciliation-mediation on August 03, 2015, Director Edgar G. Aquino said today.

“The 37 employees stand to benefit from the said settlement which is estimated at Php 9.2 Million covering the CBA period April 1, 2015 to March 31, 2018, “Aquino added.

FLT Prime Insurance Corporation Employees Union filed a Notice of Strike against the company on June 18, 2015 on the ground of unfair labor practices (ULP).

The Union alleged negotiating in bad faith, failure to bargain economic provisions and dilatory tactics and deadlock on the 37 articles of the CBA.

On August 03, 2015, after a series of conciliation-mediation conferences presided over by Conciliator-Mediator George R. Ridad, the parties mutually agreed to settle the afore-stated issues.

The parties agreed to salary increases of Php 1,250.00 for the year 2015, Php 1,200.00 for the year 2016, and Php 1,000.00 for the year 2017.  The salary increase is retroactive April 2015.

The management also agreed to grant rice subsidy of Php 17,000.00/year, dental and optical benefits of Php 4,000.00 each for 3 years, paternity leave of 8 days for normal delivery and 10 days for caesarean delivery.

Other agreed items are educational loan of 2.5 month salary, burial assistance of Php 25, 000.00/employee and Php 5,000.00/dependent, calamity assistance of Php 5, 000.00/employee, medicine allowance of Php 11,500.00/employee and clothing allowance of Php 5,000.00/employee.

In addition, management agreed to grant a signing bonus of Php 14, 000.00/employee which shall be given upon the signing of the CBA.

Aquino lauded Ridad for the early resolution of the brewing labor dispute, saying the timely settlement of the dispute ensured the continuous operation of the company.

Affiliated with Federation of Free Workers (FFW), FLT Prime Insurance Corporation Employees Union has 37 rank-and-file members.

FLT Prime Insurance Corporation is a non-life insurance company. – Renato R. Cañutal, LIO, RCMB-NCR