A United Nations-backed network that promotes sustainable development and disaster resilience has declared insurance as a priority area and tapped the Executive Director of Philippine Insurers and Reinsurers Association (PIRA) to take the lead in efforts to promote insurance for disaster risk reduction.
ARISE Philippines, a local version of the Private Sector Alliance for Disaster Resilient Societies (ARISE), appointed in its latest Board of Directors meeting PIRA Executive Director Michael Rellosa as the priority area lead for insurance.
Mr. Rellosa joins three other luminaries who have been named Priority Area Leads in their respective fields.
Mr. Rene Meily, President of the Philippine Disaster Resilience Foundation (PDRF) has been tapped to take charge of Small and Medium Enterprises (SMEs) while Ms. Maribeth Marasigan, President and Chief Operating Officer of Aboitiz Foundation will take charge of investors and investments.
Meanwhile, Dr. Erdsan Suero, the National President of the Philippine Institute for Civil Engineers, has been appointed to oversee the promotion of resilient infrastructure.
In his report to the ARISE Philippines Board, Mr. Rellosa shared the latest PIRA initiatives related to disaster risk insurance, namely the Philippine Catastrophe Insurance Facility, the Private-Public Partnership Arrangement on Agricultural insurance, the Parametric Insurance for Heavy Rainfall and Typhoon, and the effort to Catalyze Insurance Leadership for Nature-Based Solutions in the country.
On top of these initiatives, Mr. Rellosa said PIRA continues its efforts to deepen Filipinos' understanding and appreciation of insurance as an instrument for disaster resilience.
"We also would like to increase our countrymen's awareness on available insurance products for disaster resilience, promote PIRA and ARISE collaboration, and, together, lobby for policy changes to improve public access to insurance products," Mr. Rellosa said.
The PIRA Executive Director expressed his gratitude to ARISE Philippines for recognizing PIRA's important role as the voice of the non-life insurance industry.
"We are truly thankful to the leaders of ARISE Philippines for their trust in PIRA. We are excited to raise our collaboration with all of them to the next level and hopefully achieve meaningful changes for our country," he said.
ARISE Philippines, at present, is composed of 144 member companies and private sector institutions that share the vision of a resilien and prosperous future where fewer lives are lost to disasters.
The network has grown by more than double since its launch six years ago through the initiative of SM Prime Holdings with the support of the United Nations Office for Disaster Risk Reduction (UNDRR).