Friday, October 29, 2010

Beware: GSIS Issues Warning Against Fake Agents

The Government Service Insurance System (GSIS) alerted the public that some private individuals have been caught using the agency’s name in securing reinsurance contracts in London and Australia without its authority.

Upon verification, the contracts were revealed to be fraudulent, while the persons involved were also uncovered as fake agents who were not connected in any way to the GSIS.  The following persons were identified as having falsely identified themselves as authorized representatives of the agency:

   1. Efren O. Docena;
   2. Roberto C. Ibasco; and
   3. Arnulfo R. Madriaga.

The GSIS warns that it assumes no responsibility to compensate or indemnify any party for any contract or agreement entered into by persons or entities who have not been authorized by the GSIS to do so.

The public is advised to seek verification from the GSIS prior to entering into any GSIS-related transaction with purported agents.

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