The Philippines Insurance Commission confirmed that Insurance Commissioner Reynaldo A. Regalado received an Office of the Ombudsman order placing him under preventive suspension in connection with a complaint by SCCI Management and Insurance Agency. Regalado said he would cooperate fully with the proceedings and address the allegations through the legal process. The complaint alleges that Regalado gave preferential treatment to the third consortium accredited under the Passenger Personal Accident Insurance Program, despite alleged deficiencies and delays in its documentation, and that the Commission did not promptly address SCCI's document requests. In counter-affidavits filed on July 30, Regalado maintained that the accreditation complied with Circular Letter No. 2025-17, all consortiums were assessed under the same standards and the document requests were handled under applicable disclosure rules. The Commission also noted that a Manila regional trial court had previously upheld the circular and found that accrediting a third insurance pool did not violate any law or regulation.
2026-08-06Philippines Insurance Commission
Philippines Insurance Commission confirms commissioner's preventive suspension during Ombudsman investigation
The Philippines Insurance Commission confirmed that Commissioner Reynaldo A. Regalado was placed under preventive suspension during an Ombudsman investigation into alleged preferential treatment in an insurance consortium accreditation. Regalado denied the allegations in counter-affidavits and said he would cooperate with the proceedings.