The Insurance Commission has shut down Haven Sanctuary Mortuary Care Services OPC for running an unauthorized pre-need and insurance business.
The regulator also ordered the firm to pay fines and return all illegally collected client funds. Penalties were levied under the country’s Pre-need and Amended Insurance codes, alongside a public warning advising consumers to transact only with licensed intermediaries.
A May 21 cease-and-desist order revealed the Negros Occidental-based firm had been operating as an agent for Cosmopolitan Climbs Life Plan Inc and falsely representing itself as a salesman for major insurer Manulife Philippines.
The IC warned the public to verify licenses before buying insurance, pre-need, or HMO products.
