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(From Philippine Daily Inquirer)
Byline: Honesto C. General
GSIS WANTS TO MONOPOLIZE the CTPL (Compulsory Third Party Liability) business and completely crowd out the entire private insurance industry. Have you heard of anything more preposterous?
In an Aug. 26 letter to Secretary Leandro Mendoza of the Department of Transportation and Communications (DOTC), GSIS senior vice president Josefina Valera offered to cover all vehicles nationwide against CTPL insurance. The offer is based on Presidential Decree No. 245 issued in 1973, empowering GSIS to issue practically any kind of insurance.
There are three reasons why the GSIS offer should be …