Regulators will conduct a new hearing this week on a local insurer’s grievance against Marsh UK, which has been accused of breaking Philippine laws. Prudential Guarantee and Assurance, Inc. filed a formal complaint in October before the Insurance Commission (IC), claiming that United Kingdom-based Marsh — which it formerly tapped as a reinsurance broker — had solicited business illegally and also unlawfully disclosed confidential information. Prudential Guarantee has also filed a complaint against Marsh executives before the Department of Justice over the disclosure of confidential electronic data. In an eight-page affidavit, Prudential Guarantee claimed that this led to the loss of a key insurance account. Cebu Air, the operator of low cost airline Cebu Pacific, ultimately decided not to renew its contract with Prudential Guarantee.

Source: Manila Times March 18, 2018 16:18 UTC