MANILA, Philippines — The Insurance Commission (IC) on Wednesday warned the public about two unregistered firms selling insurance products and services on social media platform Facebook.
In a statement, the IC said Miler Insurance sold products on its company website as well as Facebook “without the necessary license to act as a nonlife insurance company or as an insurance agent.”
The IC also flagged Insuro’s Insurance Services, which likewise sold on Facebook with claims of being both a consulting agency and an insurance agent that offered engineering, liability, marine, motor car, personal accident, as well as property insurance products “without the requisite license.”
“Based on the records of the IC, Insuro’s Insurance Services does not have a certificate of authority to act as an insurance agent, but merely has a pending application for the issuance of an insurance agent’s license,” it said.
“The IC will be relentless in taking down unlicensed entities for the security and safety of the insurance, preneed and health maintenance organization markets,” said Insurance commissioner Dennis Funa.