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                    [ArticleID] => 299962
                    [Title] => Third player wants piece of 3rd-party liability action
                    [Summary] => While government must address the legality of the Government Service and Insurance System (GSIS) in selling comprehensive third-party liability (CTPL) insurance policies  to private individuals and entities, it is now faced with a new challenge.


It is not only the consortium formed by the Philippine Insurers and Reinsurance Association (PIRA) that claims to be prepared to correct the anomalous practices in the issuance of CTPL for vehicle registration. Now another private group is presenting itself as an alternative.


                    [DatePublished] => 2005-10-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 278924
                    [Title] => Purisima endorses proposed capital hike on all insurers
                    [Summary] => A proposal to increase the paid-up capital of life and non-life insurance received the endorsement of the Department of Finance (DOF) and major industry players. 


And some of the major players in the life sector expressed their support to raise the competitive standard of the industry. 


In an interview, Finance Secretary Cesar V. Purisima said that the bigger the capitalization of an insurer, the better for the insurer, the Philippine insurance industry, and the better protection for the insuring public. 


                    [DatePublished] => 2005-05-24 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 278053
                    [Title] => Insurance Commission mulls hike in insurer’s capitalization
                    [Summary] => The Insurance Commission (IC) is planning to increase the authorized capital requirement to P300 million and P150 million for life and non-life insurance companies, respectively, starting 2006.


And for 2007, authorized capital requirement will be increased to P600 million for life insurers and P300 million for non-life insurers.


Unnamed commission officials said that the plan has already been forwarded to the affected industries for comment, and further discussions.


                    [DatePublished] => 2005-05-17 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

            [3] => Array
                (
                    [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] => 
                )

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)

COMMISSIONER BENJAMIN S

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    [results] => Array
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            [0] => Array
                (
                    [ArticleID] => 299962
                    [Title] => Third player wants piece of 3rd-party liability action
                    [Summary] => While government must address the legality of the Government Service and Insurance System (GSIS) in selling comprehensive third-party liability (CTPL) insurance policies  to private individuals and entities, it is now faced with a new challenge.


It is not only the consortium formed by the Philippine Insurers and Reinsurance Association (PIRA) that claims to be prepared to correct the anomalous practices in the issuance of CTPL for vehicle registration. Now another private group is presenting itself as an alternative.


                    [DatePublished] => 2005-10-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 278924
                    [Title] => Purisima endorses proposed capital hike on all insurers
                    [Summary] => A proposal to increase the paid-up capital of life and non-life insurance received the endorsement of the Department of Finance (DOF) and major industry players. 


And some of the major players in the life sector expressed their support to raise the competitive standard of the industry. 


In an interview, Finance Secretary Cesar V. Purisima said that the bigger the capitalization of an insurer, the better for the insurer, the Philippine insurance industry, and the better protection for the insuring public. 


                    [DatePublished] => 2005-05-24 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 278053
                    [Title] => Insurance Commission mulls hike in insurer’s capitalization
                    [Summary] => The Insurance Commission (IC) is planning to increase the authorized capital requirement to P300 million and P150 million for life and non-life insurance companies, respectively, starting 2006.


And for 2007, authorized capital requirement will be increased to P600 million for life insurers and P300 million for non-life insurers.


Unnamed commission officials said that the plan has already been forwarded to the affected industries for comment, and further discussions.


                    [DatePublished] => 2005-05-17 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

            [3] => Array
                (
                    [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] => 
                )

        )

)

abtest

Third player wants piece of 3rd-party liability action

By Ted P. Torres | October 4, 2005 - 12:00am

While government must address the legality of the Government Service and Insurance System (GSIS) in selling comprehensive third-party liability (CTPL) insurance policies to private individuals and entities, it is...

Banking

Purisima endorses proposed capital hike on all insurers

May 24, 2005 - 12:00am

A proposal to increase the paid-up capital of life and non-life insurance received the endorsement of the Department of Finance (DOF) and major industry players. And some of the major players in the life sector...

Banking

Insurance Commission mulls hike in insurer’s capitalization

By Ted P. Torres | May 17, 2005 - 12:00am

The Insurance Commission (IC) is planning to increase the authorized capital requirement to P300 million and P150 million for life and non-life insurance companies, respectively, starting 2006. And for 2007, authorized...

Banking

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