The Insurance Commission has issued a stern warning against the Cebu-based Mortuaries’ Cooperation Interment Assistance Group, Inc. (MCIA Group) for persistently selling pre-need plans without the necessary license.
Despite a cease and desist order issued in 2020, the IC said it received reports that the company has continued to sell pre-need plans.
Insurance Commissioner Reynaldo A. Regalado has issued a warning to the MCIA Group that a violation of the cease and desist order will result in appropriate sanctions.
“The MCIA Group, Inc. is sternly warned that a finding of violation of the cease and desist order merits appropriate sanctions against it, and the Commission will not hesitate to file an appropriate action against its officers, or any responsible individual, before the court for violation of the Pre-need Code of the Philippines,” Regalado said in a letter dated June 15, 2023.
