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Garcia Lashes Out at Teves Forsiding With Car Insurers Over CTPL

The Manilla Times Car Insurance
Published: Monday, August 18, 2008 

Aug. 18--MACTAN, Cebu: Winston Garcia, Government Service Insurance System (GSIS) president and general manager, said the Finance secretary is acting as if he was the "spokesperson" of private car insurers over the issue of the compulsory third-party liability (CTPL) insurance. Finance Secretary Margarito Teves had earlier claimed that officials of GSIS, the Philippine Insurers and Reinsurers Association (PIRA), the Insurance Commission and Land Transportation Office attended a meeting where the parties supposedly expressed interest in coming up with a compromise agreement on the compulsory third-party liability issue. He also accused Teves of protecting the cartel of car insurers and of favoring their interest over that of the consumers, who deserve to pay lower premiums.....

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