Insurance chief suspended over PUV insurer accreditation irregularities

HEAD. Insurance Commissioner Reynaldo Regalado speaks during a briefing for the Senate Committee on Finance on October 14, 2025. Department of Finance Insurance Commissioner Reynaldo Regalado is also accused of conflict of interest as he previously served as senior counsel at AAQ Law, the firm that allegedly represented the consortium he later approved for accreditation MANILA, Philippines – The Office of the Ombudsman has ordered the preventive suspension of Insurance Commissioner Reynaldo Regalado for six months without pay while it investigates alleged irregularities in the accreditation of an insurance provider for public utility vehicles. In a July 28 order announced on Monday, August 3, the Ombudsman said Regalado faces administrative complaints for grave misconduct and alleged violations of the Code of Conduct and Ethical Standards for Public Officials and the ease of doing business law. The administrative complaint stems from Regalado’s approval of a third insurance consortium under the Passenger Personal Accident Insurance (PPAI) Program, despite alleged questions over the consortium’s membership and whether its application was filed on time. The PPAI Program requires public utility vehicle (PUV) operators to obtain accident insurance coverage for their passengers. The Ombudsman said that Regalado was also accused of conflict of interest because he had served as senior counsel at AAQ Law, the firm that allegedly represented the accredited consortium. The law firm’s website continues to list Regalado as a senior counsel who is “on leave.” “Regalado’s participation in any proceeding involving AAQ Law’s clients casts serious doubt as to his impartiality,” the Ombudsman said in a statement on Monday. The complainant also alleged that Regalado withheld accreditation records needed for an appeal, failed to act on document requests for accreditation, and excluded its lawyers from a conference with the Insurance Commission. The Ombudsman said Regalado’s continued stay in office could prejudice the investigation and allow control over relevant documents and evidence. The suspension is immediately executory, unless stopped by the Ombudsman or a court. Another complaint also accuses him of violating the Anti-Graft and Corrupt Practices Act. The preventive suspension is not a final finding of liability, and the complaints against Regalado remain pending. – with a report from Jairo Bolledo/Rappler.com How does this make you feel? Loading