Insurance Commission

IN PHOTOS: The Insurance Commission (IC) joined the Philippine Insurers Club for the kick-off of Insurance Consciousness Week activities this first week of October, with the theme “Empower, Educate, Ensure: Your Future with Insurance”.

Insurance Commissioner Reynaldo A. Regalado and other IC officials attended the launch of this year’s Insurance Consciousness Week at the Insurance Institute for Asia and the Pacific (IIAP) headquarters in Makati City to support initiatives from the private sector to empower, educate and ensure the public through insurance and financial preparedness.

𝗣𝗜𝗗𝗦 𝗣𝗥𝗘𝗦𝗦 𝗥𝗘𝗟𝗘𝗔𝗦𝗘: 𝐄𝐱𝐩𝐞𝐫𝐭 𝐚𝐝𝐯𝐨𝐜𝐚𝐭𝐞𝐬 𝐟𝐨𝐫 𝐢𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐧𝐠 𝐧𝐚𝐭𝐮𝐫𝐞-𝐛𝐚𝐬𝐞𝐝 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐢𝐧 𝐢𝐧𝐟𝐫𝐚𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞 𝐚𝐧𝐝 𝐜𝐥𝐢𝐦𝐚𝐭𝐞 𝐚𝐝𝐚𝐩𝐭𝐚𝐭𝐢𝐨𝐧

As climate change continues to threaten communities worldwide, experts advocate for integrating nature-based solutions into infrastructure planning, climate change adaptation, and disaster risk reduction efforts.

In a recent webinar hosted by the Philippine Institute for Development Studies (PIDS) through the Socio-economic Research Portal for the Philippines (SERP-P), Assistant Professor Samantha Geraldine Delos Santos from the University of the Philippines Los Baños - College of Public Affairs and Development highlighted the transformative potential of nature-based solutions in building resilient communities.

Read full article at https://bit.ly/pressrelease46 or watch the recording of the forum here: https://bit.ly/pidslive080124. # # #

IN PHOTOS: The Insurance Commission (IC) received a certificate of appreciation from the Philippine Red Cross for participating in its blood collection drive.
In June 2024, IC employees led by Insurance Commissioner Reynaldo A. Regalado participated in bloodletting activities organized by the Philippine Red Cross at the IC Head Office at UN Avenue, Ermita, Manila, Philippines.

IN PHOTOS: Finance Secretary Ralph G. Recto has challenged the life insurance industry to become a key poverty-fighting force by increasing its market pe*******on, and turning life insurance into a mainstream consideration and a basic necessity for Filipinos during his keynote speech at the Philippine Life Insurance Association (PLIA) during its 74th Anniversary celebration on July 30, 2024.
The Finance Chief stressed that the government’s ultimate goal is to reduce poverty incidence to a single digit or 9% by 2028.
As of 2023, the government has successfully lifted 2.5 million Filipinos out of poverty, lowering the poverty rate to 15.5%. To meet its target, it must elevate 10 million more Filipinos above the poverty line in the next four years.
Secretary Recto sees this as a challenge and an opportunity—a call to action for the industry to step up efforts in ensuring that every Filipino, especially those in low-income brackets, is protected and shielded from falling below the poverty line.
He strongly encouraged the members of the PLIA to aggressively innovate, educate, and advocate life insurance in a manner that every Filipino recognizes its indispensable importance.
Secretary Recto called on the life insurance industry to take advantage of the Philippines’ vibrant labor market, growing middle class, its demographic sweet spot, and its projected ascent to becoming an upper-middle-income country in 2025 as well as the world’s 13th largest market in 2030.
PLIA is the umbrella organization of all life insurance companies operating in the Philippines, which currently has 33 member-companies.
READ MORE: https://www.dof.gov.ph/recto-challenges-life-insurance.../

Happiest birthday to Senator Sonny Angara!

The Insurance Commission is grateful to all of your contributions in strengthening the Philippine insurance industry. We recognize your pivotal role as the principal author of R.A. No. 10142, which pushed forth the amendment of the Insurance Code. This relevant legislation benefited not just the insurance industry but more so, the insuring public whom we serve.

With your commitment to education and dedication to serve, we are certain that you will continue to champion the welfare of the people and contribute to the development our nation.