Teachers’ groups under guardianship
THE INSURANCE Commission (IC) has placed the Teachers Association of Pangasinan, Dagupan City and San Carlos City Mutual Benefit Association, Inc. and Pangasinan Public School Teachers Mutual Benefit Association, Inc. under conservatorship.
Both had failed to submit their annual statements for the first quarter, the regulator said in separate notices on July 30.
The first group also failed to set up a guaranty fund by depositing with the commissioner an initial minimum amount of P5 million, the IC said. — Aaron Michael C. Sy