The National Bureau of Investigation (NBI) Region 4 raided the office of Wind Mortuary Insurance, a preneed insurance company in Cabuyao, Laguna that was allegedly operating illegally.
According to Dante Bonoan, assistant regional director of NBI-4, Wind Mortuary Insurance owned by Edwin Lumawas is not registered with the Insurance Commission.
At their branch office in Cabuyao City, their vice president Eduardo Paras, and 3 personnel were arrested in the entrapment operation.
Paras flatly denied the allegation and insisted that he was also just a victim.
According to the NBI, the insurance company has its head office in General Santos City.
It is said that the modus operandi of Wind Mortuary Insurance is to sell preneed insurance for funeral services at P6,358 per policy but many have died without receiving benefits.
There were also victims who were offered to be branch operators and released large amounts of money but they were also deceived.
More than 600 agents and policyholders were victimized by the company, the NBI said.
The NBI said that in Lipa and Batangas City alone, the company embezzled an estimated P6 million from those who were deceived.
NBI raids Laguna branch of Wind Mortuary Insurance
According to the NBI, the insurance company also operates throughout Calabarzon, Cebu, and Mindanao.
The suspects will be charged with syndicated estafa and violation of the Preneed Code of the Philippines.
The whereabouts of other Wind Mortuary Insurance officials are still being determined.
In July 2019, the Insurance Commission already issued a public warning against the insurance company.
“The IC issued against the company a cease-and-desist order that stopped it from engaging in pre-need and insurance transactions without the required licenses under both Republic Act (RA) No. 9829 or the Pre-Need Code of the Philippines and RA 10607 or the Amended Insurance Code, Insurance Commissioner Dennis B. Funa said in a published notice to the public,” Inquirer reported.
“The public is warned to refrain from transacting any pre-need and/or insurance business with the company operated by Mr. Lumawas, as the said company is not duly authorized by the lC to do pre-need and/or insurance business, or act as an intermediary,” Funa said.