IC CIRCULAR LETTER NO. 6-2005, March 03, 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