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Array ( [results] => Array ( [0] => Array ( [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.
[DatePublished] => 2004-05-04 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Banking [SectionUrl] => banking [URL] => ) [1] => Array ( [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] => ) ) )
RAMBI
Array ( [results] => Array ( [0] => Array ( [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.
[DatePublished] => 2004-05-04 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Banking [SectionUrl] => banking [URL] => ) [1] => Array ( [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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May 4, 2004 - 12:00am
April 20, 2004 - 12:00am
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