MEGA PETROLEUM PHILIPPINES AND PARTHENON PTY DEVELOPMENT INC

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                    [ArticleID] => 246931
                    [Title] => IC slaps CDO on defiant  Security Pacific Assurance
                    [Summary] => The Insurance Commission (IC) issued a cease-and-desist order (CDO) stopping Security Pacific Assurance Corp. (SPAC) from selling or transacting any other non-life insurance business. 


In a resolution dated March 19 this year, the IC said that the SPAC failed to meet all its obligations to several oil companies thus becoming "hazardous" to the welfare of the insuring public. 


                    [DatePublished] => 2004-04-20 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
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IC slaps CDO on defiant Security Pacific Assurance

April 20, 2004 - 12:00am

The Insurance Commission (IC) issued a cease-and-desist order (CDO) stopping Security Pacific Assurance Corp. (SPAC) from selling or transacting any other non-life insurance business. In a resolution dated March...

Banking