Court stops GSIS take over of CTPL insurance
July 28, 2008The Mandaluyong Regional Court issued a 20-day temporary restraining order against GSIS from implementing its plan to take over the issuance of CTPL insurance from private insurance companies. The court will study the merits of a petition filed by Ms. Belinda Martezano, an insurance agent, to stop the GSIS from monopolizing the CTPL business in the country.
GSIS move, with the approval of the DOTC and Insurance Commission, is designed to stop the proliferation of fake CTPL insurance policies. However, it would affect the income of the private insurance companies and their agents and brokers.
Read the news:
Court stops GSIS car insurance plan
By Michelle Remo
Philippine Daily Inquirer
First Posted 10:13am (Mla time) 07/26/2008
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