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Pag-IBIG Fund
The dispute goes way back to 1985 when Pag-IBIG Fund entered into a combined fire insurance policy with a group of 43 insurance firms and terminated in 2013
MANILA, Philippines – The Commission on Audit (COA) has ruled against a group of private insurance companies on a petition that the Home Development Mutual Fund (HDMF) or Pag-IBIG Fund should remit P1.503 billion in insurance premiums connected to a 1985 deal that ended in 2013.
In an en banc decision, the COA upheld the government corporation’s arguments that the insurance firms’ petition was defective.
