Golf tournament set for insurance executives

By Michael F. Rellosa


AFTER more than two years of being virtually locked down in their offices and homes, executives of the insurance industry are finally going out to hit the fairways for the Insurance Commissioner's Cup Golf Tournament at the south course of the Canlubang Golf and Country Club on Friday, July 29, 2022. This is a good thing, as more issues are resolved on the fairways than in board rooms, and in the insurance industry there is no dearth of issues that need to be ventilated and decisions arrived at. Hot issues include but are not limited to the industry's response to disaster risk reduction, the Philippine Catastrophe Insurance Facilities 1 and 2, the hopeful introduction of agriculture insurance into the portfolio mix, the continuing pandemic and how best to address it, IFRS 17, a P1.3 billion net worth requirement, nature- based solutions, ESG requirements, and other nascent topics that these executives should start to familiarize themselves with. This tourney is not only a welcome respite but more importantly, an opportune time for insurance honchos to exchange notes.


This tournament is being organized by the Philippine Insurers and Reinsurers Association (PIRA), with the support of the Insurance Institute for Asia and the Pacific (IIAP) and the Philippine Insurers Club (PIC). It is, of course, sanctioned by no less than Insurance Commissioner Dennis B. Funa himself who will be the one awarding the prizes to the winners. Invitations have been sent to the deputy commissioners as well. Deputies Erickson Balmes, Bong Florendo and Randy Serrano hopefully will be able to make it as this will be an opportune time to thank them all for their valuable contributions to the industry.


PIRA General Manager Roger Concepcion, who heads the organizing committee for this tournament, advised that close to 80 players have confirmed their participation so far. He noted that this tournament seeks to provide industry practitioners, clients, friends and acquaintances an avenue to network among themselves and the Insurance Commission in the spirit of cooperation, collaboration and friendly competition, hallmarks of the industry. He added that given the Covid-19 situation, the tournament will be strictly observing health and safety protocols as mandated by the IATF.


The insurance industry is grateful to those who are sponsoring this undertaking. Major sponsors are Computer Professionals Inc., NTT Data, Philippine Accident Managers Inc.