Philippine American Life and General Insurance Co., Inc. (Philam Life) is facing administrative case for allegedly manipulating insurance policies.
In a statement, the Insurance Commission (IC) said Philam Life is facing an administrative case filed by a customer named Mona R. Tan, accusing the insurer of policy manipulation.
“Based on the records of this Commission, Ms. Tan filed an administrative case
sometime in February 2017 against respondents Philippine American Life and General Insurance Company (PhilAm) and three (3) PhilAm agents alleging that the methods of business of the respondents is such as to render its proceedings hazardous to its policyholders,” the IC said in a statement sent to reporters Thursday.
The commission added that both parties have undergone stages of administrative proceeding from filing of the complaint until the conduct of mediation proceedings and pre-trial. — Karl Angelo N. Vidal