Navigating an uncertain world: The insurance industry’s advice

By Michael F. Rellosa

As I write, Typhoon Ragasa, the strongest typhoon anywhere in the world in 2025 thus far, made its power felt, with another weather disturbance threatening to turn into another typhoon close at its heels. We also survived a weekend of national protests ironically because we exposed anomalies in projects meant to protect us from the effects of such typhoons. Mayhem and chaos are becoming uncomfortably common.

In a world that feels more unpredictable than ever — where the news is filled with stories of intensifying natural disasters, complex cyberthreats and shifting global landscapes — we in the insurance industry understand the uncertainty you feel. The role of an insurance policy is changing, and so is our relationship with you, our valued customer. This isn’t just about us providing a safety net; it’s about us working together to build a safer and more resilient future. Our message to you is simple, yet profound: together, we can make it work.

Our most important piece of advice is to view your policy not as a magic shield, but as a critical last line of defense. True security begins long before you ever need to file a claim. We strongly encourage you to take proactive steps to prevent risks from happening in the first place. For your home, this might mean installing smart smoke detectors and alarms, securing your roof against high winds, or having an emergency plan for floods. On a larger scale, it means working with your local government units and investing in community-wide flood barriers or strengthening local infrastructure. For your digital life, it means being vigilant against cyberattacks, using strong passwords and regularly backing up your important data to a secure off-site location. By taking these actions, you’re not just protecting your property; you’re protecting your peace of mind and the well-being of your family and community. The best outcome for all of us is a future where the claim you never have to file is the one you were prepared for.

We also want to be perfectly clear about the limits of what insurance can do. In this modern landscape, some risks are simply too widespread or unpredictable to be covered by a commercial policy. These “uninsurable” events — such as pandemics, acts of war or global economic crises — are forces of nature and geopolitics that affect everyone at once. They are considered “systemic risks” because their sheer scale makes them unmanageable for a private insurer, whose business model relies on the diversification of risk. We don’t pretend that we can provide a solution for these, but we can help you understand where your policy’s protection ends. We urge you to read your policy carefully and ask us questions, because a clear understanding of your coverage’s boundaries is a powerful tool. It allows you to focus your preparedness efforts where they matter most, rather than on a false sense of security.

Because you can’t transfer all risks, the responsibility for them falls on you, and that’s where our partnership truly begins. We advise you to focus on building your personal and financial resilience. For individuals and families, this means having an emergency savings fund that can see you through a job loss or a sudden economic downturn, and creating an emergency kit with supplies that can last for several days. For business owners, it’s about more than just financial reserves; it’s about building flexible supply chains, having a robust business continuity plan and creating a succession plan to weather market shocks. We are committed to providing you with the resources and guidance you need to make these decisions — not just as your insurer, but as your partner in holistic financial planning.

The human element of risk is also a critical part of this conversation. While we can help you recover financially from a disaster, the emotional and mental toll is something no policy can cover. This is why we encourage our customers to not only have a physical plan for a disaster, but a psychological one as well. Know who you will contact, where you will meet and what steps you will take to ensure the well-being of your loved ones. This preparedness reduces panic and allows for clearer thinking during a crisis. It’s about empowering you to take control of your situation, even when it feels chaotic.

Finally, we want you to think of us not just as a service you use after a disaster, but as a resource you can use to prevent one. Many of our modern services are designed to help you proactively manage risks. We can provide you with data-driven insights to help you identify vulnerabilities in your home, or offer you tools to strengthen your business’ cybersecurity. This is a shift from being a reactive payer of claims to a collaborative partner in your long-term security. The invitation is always open: let’s work together to navigate this uncertain world, because your resilience is our shared success.

Source: www.manilatimes.net