As required by the Philippine Insurance Commission, we maintain Errors and Omissions Liability coverage taken from reputable companies. We have rigid internal controls on monetary and other matters of value and are being audited by independent CPA's who were formerly affiliated with KPMG and who have been auditing us for more than 20 years.
Premiums, losses and other fiduciary funds belonging to reinsurers are not co-mingled with corporate funds but are kept and accounted for separately. Such funds held by us are invested only in short term certificate deposits guaranteed by the government.
As a policy, we remit premiums on a regular basis and in general, according to contract terms of reinsurance. Any special remittance required by reinsurers entail no problem for our Company to comply with.
Company Checks are issued bearing the single signature of Mariano S. Manas, Jr. or in his absence, the signature of his wife, Araceli H. Manas, the Secretary Treasurer of the Company, or his son, Francis Victor H. Manas, a Director.