Policy on Informal Insurance Activities

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JOINT IC-CDA-SEC MEMORANDUM CIRCULAR NO. 01-2010: Policy on Informal Insurance Activities

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Title Source: Supreme Court: Policy on Informal Insurance Activities

Law: Joint Ic-cda-sec Memorandum Circular No. 01-2010

Decision Date: Jan 29, 2010

Entities engaging in insurance activities must secure a Certificate of Authority from the Insurance Commission, with informal insurance providers required to cease unauthorized operations or transition to formal arrangements within specified timeframes to protect the public from unregulated risk schemes.

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