Purisima chides pre-need firms for 'poorly-designed' products

Posted at 02/10/2012 6:20 PM

Finance Secretary Cesar Purisima took to task pre-need companies and insurers that promise planholders high returns but failed to deliver due to flawed investment decisions. Purisima made the statement after regulators ordered Prudentiallife to stop paying claims so that it can preserve whatever's left of its trust fund. Top Story, ANC, February 10, 2012

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