A foreign insurance and risk management firm has been accused of allegedly operating without a license in the Philippines but regulators say they cannot act until complainants present sufficient evidence to warrant a formal case.
Lawyer Jose Antonio Bernas, who represents Prudential Guarantee and Assurance, Inc., has asked the Insurance Commission to investigate Marsh UK — a unit of professional services firm Marsh & McLennan — that has a subsidiary in the Philippines and other Asian countries.
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