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                    [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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MEGA PACIFIC INSURANCE CORP

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    [results] => Array
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                    [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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abtest

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