Insurance companies and other entities regulated by the Insurance Commission (IC) have been ordered to expedite the settlement of claims in areas declared under a state of calamity following the magnitude 7.8 earthquake that struck Mindanao. The directive from the Philippine insurance regulator requires regulated entities to accelerate the evaluation, approval and payment of claims whenever national or local authorities place an area under a state of calamity. To help affecte

The strong tremor that hit the southern Philippine island of Mindanao is expected to result in limited insured losses due to the country's low insurance penetration, according to a commentary by AM Best. On 8 June, a magnitude 7.8 earthquake rocked Mindanao, killing more than 40 people and causing significant destruction to infrastructure, homes and major roads. AM Best said that while the full scale of insured losses has yet to be assessed, it expects the persistent protecti

Over 2000 facilities under the Guaranteed and Accessible Medications for Outpatient Treatment (GAMOT) package providers nationwide are ready to give GAMOT members 75 essential medicines at no cost, according to the Philippine Health Insurance Corporation (PhilHealth). The free medicines include those for treatment of infections, asthma and chronic obstructive pulmonary disorder, diabetes, high cholesterol, high blood pressure and heart conditions, and nervous system disorders

Given the low insurance take-up in the Philippines, especially for homes, the insurance industry expects to see a wide divergence between insured and economic losses due to the 7.8 magnitude offshore earthquake that struck the southern part of the country on 8 June 2026. The Philippine Insurers and Reinsurers Association (PIRA) in a communication on 08 June 2026 extended its deepest sympathies to the families, communities, and local governments of Southern Mindanao affected b

El Niño conditions are expected to return and influence global temperatures and rainfall patterns, including in the United States, in the coming months, according to the United Nations. The weather phenomenon, which is part of a recurring global weather cycle, has an 80 percent chance of forming between June and August this year and a 90 percent chance to do so before November, the World Meteorological Organization (WMO), the UN’s leading climate body, said on Tuesday. The la

Manila, Philippines — June 8, 2026 “This tragedy underscores why being adequately insured against catastrophic perils is not a luxury but a necessity. Our country sits squarely on the Pacific Ring of Fire, and Nat Cat risk here is not confined to earthquakes—it extends to typhoons, floods, and storm surge. We are presently seeing a flurry of seismic and volcanic activity even as a strong La Niña is set to exacerbate the coming typhoon season. The industry exists precisely for

THE Pacific is warming again, and the warning lights are already on. The Philippine Atmospheric, Geophysical and Astronomical Services Administration has raised its El Niño alert, pegging the probability of onset between June and August 2026 at 79 percent, with European models flagging the possibility of a record-breaking “super” event that could stretch into 2027. The last strong El Niño in 2023 to 2024 cost Philippine agriculture roughly P57 billion. A super event would be

SEADRIF Insurance Company and the Food and Agriculture Organization of the United Nations (FAO) have launched an anticipatory drought insurance pilot in the Lao People's Democratic Republic (Lao PDR). This marks the first time a Southeast Asian government has secured pre-arranged financing designed to activate ahead of drought impacts. The pilot provides the Lao Ministry of Finance with access to payouts triggered by early warning data indicating elevated drought risk, before