+ Follow COMMISSIONER EDUARDO T Tag
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[ArticleID] => 455529
[Title] => Tetangco, Malinis favor stronger Financial Sector Forum
[Summary] => MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) and the Insurance Commission (IC) is in favor of strengthening the Financial Sector Forum (FSF), a consultative body composed of heads of the Securities and Exchange Commission (SEC), the Philippine Deposit and Insurance Corp. (PDIC), BSP and the IC.
[DatePublished] => 2009-04-07 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
[1] => Array
(
[ArticleID] => 442562
[Title] => DPWH discriminates on non-life insurance firms
[Summary] => Another government agency has imposed an almost impossible requirement for non-life insurance companies to offer their bond protection products.
[DatePublished] => 2009-02-24 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
[2] => Array
(
[ArticleID] => 431702
[Title] => IC backs insurers' plea on doing business in Makati
[Summary] => The Insurance Commission (IC) is backing an industry plea to allow all non-life insurance companies to do business in Makati City.
[DatePublished] => 2009-01-16 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 63316
[Title] => IC keeps capital hike at P100M; RBC stays
[Summary] =>
[DatePublished] => 2008-05-20 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
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[4] => Array
(
[ArticleID] => 176339
[Title] => Non-life insurers get ultimatum
[Summary] => The Insurance Commission (IC) has ordered non-life companies to pay bonds claims of several oil companies, or else.
In a series of meetings held yesterday, IC Commissioner Eduardo T. Malinis ordered Wellington Insurance Co., Development Insurance & Surety Corp., and Security Pacific Assurance Corp. to pay their bond claims or risk penalties including the suspension of their certificate of authority to operate (CA).
"They should pay the claims immediately and then go after their principal," Malinis ordered.
[DatePublished] => 2002-09-17 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
[5] => Array
(
[ArticleID] => 170164
[Title] => SC, IC join forces vs delinquent insurers
[Summary] => The Supreme Court and the Insurance Commission (IC) has joined forces in clamping down on delinquent non-life insurance companies issuing judicial bonds.
Judicial bonds are basically bail bonds issued for the temporary release of an accused. An insurance company will issue the bail bonds and thus guarantees that the accused would appear when summoned by the court.
The insurer, otherwise known in this case as the surety firm, assumes the risk of underwriting bonds for a premium. In the event that the accused fails to appear, the courts confiscate the bonds.
[DatePublished] => 2002-07-30 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
[6] => Array
(
[ArticleID] => 169668
[Title] => IC warns 16 non-life insurance firms
[Summary] => The Insurance Commission (IC) has given 16 non-life insurance companies up to the end of the month to raise their capital to a minimum of P50 million or face closure.
Under Department Order 31-01 of the Department of Finance (DOF), all life and non-life insurance companies are required to have a minimum capital of P50 million by end June this year. Failure to meet the deadline would result in a suspension of operations and possible closure of the company.
[DatePublished] => 2002-07-26 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => Array
(
[ArticleID] => 166386
[Title] => IC gives All Asia Life more time to raise its capital
[Summary] => The Insurance Commission (IC) has extended to September the deadline for All Asia Life Assurance Corp. to fill its capital deficiency.
"It is the final extension. If they fail again, we have to enforce the law," said IC Commissioner Eduardo T. Malinis.
The original deadline was set for end June this year. But the insurer sought an extension saying it was waiting for the court to issue what they expect to be a favorable decision involving certain properties, which would be used to fill up its capital deficiency of P123.4 million.
[DatePublished] => 2002-06-29 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[8] => Array
(
[ArticleID] => 162540
[Title] => Gov’t loses P900M from fake insurance certificates
[Summary] => The Insurance Commission (IC) estimates that the national government lost up to P900 million in taxes with the proliferation of fake certificates of cover (COCs) last year.
That is the motivation why the Land Transportation Office (LTO) and the IC wants the new electronic system for issuance of COCs prior to vehicle registration implemented.
‘We have to implement it immediately!" exclaimed LTO chief Roberto Lastimoso. "The government is losing a lot of money with the continued delays."
[DatePublished] => 2002-05-28 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
[9] => Array
(
[ArticleID] => 159162
[Title] => ISAP seeks extension from April deadline
[Summary] => The non-life insurance industry is asking the Land Transportation Office (LTO) for an extension of up to June this year for the implementation of a joint memorandum circular affecting the certificates of cover (COCs) and vehicle registration.
The original implementation date was set for April 15 under the joint memorandum circular signed by the Insurance Commission (IC) and the LTO last March 14 this year. Recently, it was extended to April 22 upon the request of the industry and recently, the IC agreed to their recommendation for an extension.
[DatePublished] => 2002-04-30 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
)
)
COMMISSIONER EDUARDO T
Array
(
[results] => Array
(
[0] => Array
(
[ArticleID] => 455529
[Title] => Tetangco, Malinis favor stronger Financial Sector Forum
[Summary] => MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) and the Insurance Commission (IC) is in favor of strengthening the Financial Sector Forum (FSF), a consultative body composed of heads of the Securities and Exchange Commission (SEC), the Philippine Deposit and Insurance Corp. (PDIC), BSP and the IC.
[DatePublished] => 2009-04-07 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
[1] => Array
(
[ArticleID] => 442562
[Title] => DPWH discriminates on non-life insurance firms
[Summary] => Another government agency has imposed an almost impossible requirement for non-life insurance companies to offer their bond protection products.
[DatePublished] => 2009-02-24 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
[2] => Array
(
[ArticleID] => 431702
[Title] => IC backs insurers' plea on doing business in Makati
[Summary] => The Insurance Commission (IC) is backing an industry plea to allow all non-life insurance companies to do business in Makati City.
[DatePublished] => 2009-01-16 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 63316
[Title] => IC keeps capital hike at P100M; RBC stays
[Summary] =>
[DatePublished] => 2008-05-20 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
[4] => Array
(
[ArticleID] => 176339
[Title] => Non-life insurers get ultimatum
[Summary] => The Insurance Commission (IC) has ordered non-life companies to pay bonds claims of several oil companies, or else.
In a series of meetings held yesterday, IC Commissioner Eduardo T. Malinis ordered Wellington Insurance Co., Development Insurance & Surety Corp., and Security Pacific Assurance Corp. to pay their bond claims or risk penalties including the suspension of their certificate of authority to operate (CA).
"They should pay the claims immediately and then go after their principal," Malinis ordered.
[DatePublished] => 2002-09-17 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
[5] => Array
(
[ArticleID] => 170164
[Title] => SC, IC join forces vs delinquent insurers
[Summary] => The Supreme Court and the Insurance Commission (IC) has joined forces in clamping down on delinquent non-life insurance companies issuing judicial bonds.
Judicial bonds are basically bail bonds issued for the temporary release of an accused. An insurance company will issue the bail bonds and thus guarantees that the accused would appear when summoned by the court.
The insurer, otherwise known in this case as the surety firm, assumes the risk of underwriting bonds for a premium. In the event that the accused fails to appear, the courts confiscate the bonds.
[DatePublished] => 2002-07-30 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
[6] => Array
(
[ArticleID] => 169668
[Title] => IC warns 16 non-life insurance firms
[Summary] => The Insurance Commission (IC) has given 16 non-life insurance companies up to the end of the month to raise their capital to a minimum of P50 million or face closure.
Under Department Order 31-01 of the Department of Finance (DOF), all life and non-life insurance companies are required to have a minimum capital of P50 million by end June this year. Failure to meet the deadline would result in a suspension of operations and possible closure of the company.
[DatePublished] => 2002-07-26 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => Array
(
[ArticleID] => 166386
[Title] => IC gives All Asia Life more time to raise its capital
[Summary] => The Insurance Commission (IC) has extended to September the deadline for All Asia Life Assurance Corp. to fill its capital deficiency.
"It is the final extension. If they fail again, we have to enforce the law," said IC Commissioner Eduardo T. Malinis.
The original deadline was set for end June this year. But the insurer sought an extension saying it was waiting for the court to issue what they expect to be a favorable decision involving certain properties, which would be used to fill up its capital deficiency of P123.4 million.
[DatePublished] => 2002-06-29 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[8] => Array
(
[ArticleID] => 162540
[Title] => Gov’t loses P900M from fake insurance certificates
[Summary] => The Insurance Commission (IC) estimates that the national government lost up to P900 million in taxes with the proliferation of fake certificates of cover (COCs) last year.
That is the motivation why the Land Transportation Office (LTO) and the IC wants the new electronic system for issuance of COCs prior to vehicle registration implemented.
‘We have to implement it immediately!" exclaimed LTO chief Roberto Lastimoso. "The government is losing a lot of money with the continued delays."
[DatePublished] => 2002-05-28 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
[9] => Array
(
[ArticleID] => 159162
[Title] => ISAP seeks extension from April deadline
[Summary] => The non-life insurance industry is asking the Land Transportation Office (LTO) for an extension of up to June this year for the implementation of a joint memorandum circular affecting the certificates of cover (COCs) and vehicle registration.
The original implementation date was set for April 15 under the joint memorandum circular signed by the Insurance Commission (IC) and the LTO last March 14 this year. Recently, it was extended to April 22 upon the request of the industry and recently, the IC agreed to their recommendation for an extension.
[DatePublished] => 2002-04-30 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
)
)
abtest
September 17, 2002 - 12:00am
