In a meeting with top officials of Sun Life Financial Philippines, who recently paid the new IC chief a courtesy visit, Escobillo acknowledged malpractices in the non-life industry. She was quick to remind, however, that scam only happens when parties are not vigilant and would tolerate malpractices.

"In the area of valuing a property to be insured, for instance, there is a lot of room for our appraisers to derive the value in view of lack of market information and inadequate knowledge in appraisal," she admitted.

For their part, the Sun Life Financial executives, led by President and CEO Lorenzo V. Tan, assured they will constantly deal with the IC professionally as they have always done in the past.

"Sun Life is a reputable international brand, which commands the respect and admiration of financial services clients worldwide. We are committed to continuing on with our legacy of doing everything above board and constantly pursuing global standards of corporate integrity," Tan assured.

Escobillo also solicited the support of the private sector in promoting and educating the public on the importance of insurance in securing a bright future for them. She lamented the seeming lack of interest and patronage of a significant number of the population on insuring, which reflects what little value people put into saving.

The Sun Life chief responded positively to the challenge, saying: "We’ll surely be one with your efforts to educate the public on what life insurance is all about. We will likewise support this effort not just by conducting our own information drives but by introducing new products and services that we hope will catch the attention, needs and wants of a greater number of our people."

The new Insurance Commissioner’s plate is presently filled not just with efforts to enhance the capability of IC, but also of big issues such as the CTPL controversy.