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Insurance Commissioner Vows Cooperation Amid Investigation
Philippine Insurance Commissioner Reynaldo A. Regalado pledged cooperation with the Office of the Ombudsman's investigation into allegations of preferential treatment in accrediting an insurance consortium. He denied wrongdoing and expressed confidence in a fact-based evaluation.
INSURANCE Commissioner Reynaldo A. Regalado said he would cooperate with the Office of the Ombudsman’s investigation and his six-month preventive suspension over allegations of preferential treatment in the accreditation of an insurance consortium. Mr. Regalado denied wrongdoing and said he is confident the allegations will be evaluated based on facts, evidence and applicable law. The complaint alleged that the consortium failed to meet accreditation requirements and that the Insurance Commission did not promptly act on requests for documents. Mr. Regalado said all consortiums were evaluated under the same standards. — AMCS
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