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                    [Title] => CDO on insurer still valid
                    [Summary] => The Insurance Commission (IC) will not lift the cease and desist order (CDO) on Security Pacific Assurance Corp. (SPAC) until it settles all claims.


In an interview, IC officer-in-charge Eduardo T. Malinis said SPAC must settle its P20-million arrears coming from the issuance of several surety bonds to Rambi Development Corp., an oil company that imports finished oil products and sells this either wholesale or retail.


                    [DatePublished] => 2004-05-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
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                    [SectionName] => Banking
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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
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RAMBI

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                    [ArticleID] => 248732
                    [Title] => CDO on insurer still valid
                    [Summary] => The Insurance Commission (IC) will not lift the cease and desist order (CDO) on Security Pacific Assurance Corp. (SPAC) until it settles all claims.


In an interview, IC officer-in-charge Eduardo T. Malinis said SPAC must settle its P20-million arrears coming from the issuance of several surety bonds to Rambi Development Corp., an oil company that imports finished oil products and sells this either wholesale or retail.


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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
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abtest

CDO on insurer still valid

May 4, 2004 - 12:00am

The Insurance Commission (IC) will not lift the cease and desist order (CDO) on Security Pacific Assurance Corp. (SPAC) until it settles all claims. In an interview, IC officer-in-charge Eduardo T. Malinis said...

Banking

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