The Insurance Commission (IC) has once again demonstrated its commitment to protecting the insuring public by issuing Circular Letter No. 2026-11, dated 13 May 2026, providing guidelines on relief measures for policyholders, planholders, members, and the general public during the State of National Energy Emergency. Background Following the issuance of Executive Order No. 110, s. 2026 by the Office of the President, which declared a State of National Energy Emergency due to t

The Philippine Insurers and Reinsurers Association (PIRA) is currently participating in three separate initiatives involving the Bangko Sentral ng Pilipinas (BSP), the Department of Agriculture (DA), and the United Nations Development Programme (UNDP). Each initiative aims to develop new insurance products and frameworks that could expand the role of the private non-life insurance sector in the Philippines. 1. Parametric Insurance Knowledge Exchange with BSP The BSP invited

The Insurance Commission (IC) has stepped up in support of its regulated entities by granting extended deadlines on key reportorial requirements under Circular Letter No. 2026-10, dated 06 May 2026. This regulatory relief comes in response to Executive Order No. 110, s. 2026, issued by the President of the Philippines, which declared a State of National Energy Emergency following geopolitical conflicts in the Middle East that have disrupted global oil production and transpor

In Step. That was the theme — and the afternoon pretty much lived up to it. PIRA's Regular General Membership Meeting on 28 April brought together the Philippine insurance and reinsurance community for one of its two annual gatherings. Part governance, part industry conversation, and this time around, something a little more. The meeting opened with recognition: plaques for past trustees and certificates of appreciation for the many who gave their time to PIRA's technical wor

The Insurance Commission (IC) continues to demonstrate its strong support for the insurance industry’s transition to Philippine Financial Reporting Standard (PFRS) 17 – Insurance Contracts through ongoing capacity-building initiatives . Its latest initiative is the comprehensive 4-day PFRS 17 Seminar to be conducted for non-life insurance companies and HMOs on 17–20 March 2026 in Makati , aimed at strengthening technical understanding and practical implementation of the new

Deputy Insurance Commissioner for Financial Examination Group Atty. Jayson P. Lopez, CPA, giving his opening remarks. The Insurance Commission held its Regulatory Forum entitled " Enhancing Prudential Reporting and Compliance Practice " on 25 February 2026 from 1:00 PM to 5:00 PM at the Insurance Institute for Asia and the Pacific (IIAP) building. The forum provided participants with updated guidance on prudential reporting requirements, including proposed revisions to the

The General Insurance Association of Japan (GIAJ) is inviting nominations for the 36th Advanced Course of The Insurance School (Non-Life), 2026, focused on building resilient and sustainable insurance strategies. Open to next-generation insurance leaders, with 2 slots for the Philippines (1 for PIRA and 1 for IC).​ Key Dates: • Application submission to PIRA: Feb. 20, 2026 • Online sessions: May 27 – June 2, 2026 • In-person sessions: June 10 – 16, 2026 (Tokyo, Japan) Nomine

The industry-supported Actuarial Project on Tariff Rates has entered the data collection phase, with companies preparing to extract and upload their seven-year data ahead of the actuarial analysis. Coordinated by PIRA with the Insurance Commission, actuarial experts, and member companies, the project aims to modernize tariff structures for Motor Car, Property, and Surety lines using a more data-driven and sustainable approach. Data tools are undergoing final security testin