MANILA, Philippines -- The Insurance Commission (IC) has ordered the health maintenance organization Caritas Health Shield Inc. to stop selling and transacting new HMO products and businesses due to alleged fraud. In a statement Wednesday, the regulator said Insurance Commissioner Dennis B. Funa last July 8 issued the cease-and-desist order against Caritas Health following "numerous complaints received by the IC on the alleged fraudulent swiping of credit/debit cards and alleged misrepresentations of the company's sales agents." Prior to the order, Funa asked Caritas Health to explain why it should not be meted a cease-and-desist order, such that the company responded tha...
Keep on reading: IC issues cease and desist order vs Caritas Health due to fraud
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