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(NAR) VOL. 16 NO. 2 / APRIL - JUNE 2005
[ IC CIRCULAR LETTER NO. 6-2005, March 03, 2005 ]
INSURANCE COMPANIES WITH CEASE AND DESIST ORDERS (CDO)
Reports have been received that despite the issuance of CDOs and the publication thereof of the following non-life insurance companies, some are still issuing policies, especially in the provinces:
Name of Company Date of CDO 1. First Integrated Bonding & Surety Company, Inc. September 5, 1990 2. TICO Insurance Company, Inc. November 22, 2000 3. The Imperial Insurance, Inc. July 17, 2001 4. Luzon Insurance & Surety Company, Inc. September 30, 2002 5. First Quezon City Insurance Company, Inc. September 30, 2002 6. Times Surety & Insurance Company, Inc. September 30, 2002 7. Wellington Insurance Company, Inc. March 1, 2004 8. The Capital Insurance & Surety Company, Inc. June 3, 2004 9. Mantruste Insurance Corporation October 24, 2003 10. Zenith Insurance Corporation November 11, 2004 11. Development Insurance & Surety Corporation November 11, 2004 12. Mega Pacific Insurance Corporation December 6, 2004
In view thereof, please post in the most conspicuous places of your offices and/or branches the list of the insurance companies with CDOs with the view to easily catching wide public attention and awareness.
This Circular Letter shall take effect immediately.
Adopted: 3 March 2005
(SGD.) BENJAMIN S. SANTOS
Insurance Commissioner