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                    [ArticleID] => 271770
                    [Title] => 12 non-life insurance firms continue to sell products despite CDO
                    [Summary] => Twelve non-life insurance companies continued to defy the cease and desist order (CDO) issued by the Insurance Commission (IC) due to  reports indicating  rampant illegal activities in areas outside Metro Manila.


The IC warned the public not only to avoid doing business with the 12 insurers but also to report their activities.


IC Commissioner Benjamin S. Santos said they will file appropriate criminal charges against the offenders.


                    [DatePublished] => 2005-03-28 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => 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] => 
                )

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DEVELOPMENT INSURANCE AND SURETY CORP

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                    [ArticleID] => 271770
                    [Title] => 12 non-life insurance firms continue to sell products despite CDO
                    [Summary] => Twelve non-life insurance companies continued to defy the cease and desist order (CDO) issued by the Insurance Commission (IC) due to  reports indicating  rampant illegal activities in areas outside Metro Manila.


The IC warned the public not only to avoid doing business with the 12 insurers but also to report their activities.


IC Commissioner Benjamin S. Santos said they will file appropriate criminal charges against the offenders.


                    [DatePublished] => 2005-03-28 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => 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] => 
                )

        )

)

abtest

12 non-life insurance firms continue to sell products despite CDO

By Ted P. Torres | March 28, 2005 - 12:00am

Twelve non-life insurance companies continued to defy the cease and desist order (CDO) issued by the Insurance Commission (IC) due to reports indicating rampant illegal activities in areas outside Metro Manila. The...

Business

SC, IC join forces vs delinquent insurers

July 30, 2002 - 12:00am

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...

Banking