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Insurance Commission wants pre-need firms to manage their own trust funds.
(From BusinessWorld (Philippines))
Byline: Ruby Anne M. Rubio
The Insurance Commission (IC) is seeking the inclusion of some provisions in the proposed Pre-need Code of the Philippines which was recently approved for second reading at the House of Representatives.
In a letter to Isabela Rep. Edwin C. Uy, chairman of the subcommittee on securities and capital market, IC chief Eduardo T. Malinis said the code should include a provision allowing pre-need companies to manage and administer their own trust funds.
"The pre-need companies will become independent," the IC chief said, referring to the effect of such inclusion.
Asked which …
