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The International Day for Disaster Risk Reduction (IDDRR) is observed annually on 13 October to promote global awareness and collective action toward reducing disaster risk. For IDDRR 2026, the United Nations Office for Disaster Risk Reduction (UNDRR) has adopted the theme “Resilience Starts at Home.” In support of this global campaign, ARISE Philippines and its partners will translate science, governance, partnerships, and official guidance into practical and meaningful actions for households, families, communities, local governments, workplaces, businesses, and other stakeholders. As part of our IDDRR 2026 activities, we are pleased to invite you to the IDDRR 2026 Thunderclap Event, an online launch activity that will formally introduce this year’s campaign and highlight the major activities and initiatives leading up to the main Event Highlight on November 26, which will focus on understanding and preparing for Super El Niño. EVENT DETAILS Date: October 13, 2026 Time: 3:00 PM to 4:30 PM Platform: via Zoom Register Now or scan the QR Code in the poster: https://forms.cloud.microsoft/r/zHHNaMyNmq We encourage all ARISE Philippines members, partners and stakeholders to join us and help amplify the message that resilience starts at home and is strengthened through collective action. We look forward to having you with us as we launch IDDRR 2026 together! Thank you for your continued support and commitment to building a more disaster-resilient Philippines.

The sovereign parametric deal covers government exposures only, and the domestic pool covers earthquake alone, leaving typhoon and flood placements reliant on offshore capacity. The Philippine government is finalising a parametric insurance deal with the Southeast Asia Disaster Risk Insurance Facility (Seadrif) that will release pre-arranged funds to the state after major natural disasters. The Department of Finance (DOF) says the signing is expected in the coming months. For brokers placing catastrophe risk in the Philippine market, the deal is not the main event. What it does not cover is. A gap measured at 98% The Philippines ranks first on the World Risk Index for disaster exposure. A 2017 government catastrophe risk assessment, now nine years old but still the most comprehensive modelling available, put annual losses from typhoons and earthquakes at ₱177 billion. In 2025, tropical cyclone damage totalled ₱42.21 billion, with Typhoons Dino and Uwan accounting for ₱14.33 billion, according to the DOF. GlobalData puts the country's catastrophe protection gap at about 98%, against a global average of 58%. Aon data shows that since 2000, only 12% of economic losses from floods and tropical cyclones across Southeast Asia have been covered by insurance. What each government layer covers The Seadrif policy pays out to the national government when a qualifying event is triggered. It does not cover private sector exposures. Seadrif has a working precedent. In September 2025, it paid US$2 million to the Lao PDR government after flooding triggered that country's sovereign parametric policy. The DOF is also co-leading the Seadrif Sovereign Asset and Fiscal Empowerment (Seadrif-Safe) facility with Japan's Ministry of Finance under the ASEAN+3 framework. Seadrif-Safe embeds parametric cover into development projects protecting public assets such as hospitals, schools and roads. At the level of local government units (LGUs), the Government Service Insurance System has approved a voluntary city-level parametric scheme for early recovery financing. The DOF has allocated ₱39.82 billion to the National Disaster Risk Reduction and Management Fund, and ₱15.33 billion to an LGU disaster rehabilitation programme. Taken together, these mechanisms cover defined segments of government exposure, and stop there. The private pool: limited scope, limited membership The Philippine Catastrophe Insurance Facility (PCIF), launched in July 2025 by the IC, the Philippine Insurers and Reinsurers Association (PIRA) and the National Reinsurance Corporation of the Philippines, lets non-life insurers pool domestic catastrophe risk rather than reinsuring it entirely offshore. The PCIF covers earthquake only. Typhoon and flood are not included. Of the 51 non-life insurers operating in the Philippines, only 10 had joined the pool as of mid-2026, according to PIRA. PIRA's 55 member companies, a total that also includes reinsurers, collectively account for all domestic non-life insurance sold in the country. By number of insurers, then, most of the market remains outside the pool. PIRA executive director Michael Ferre Rellosa spoke after the June 2026 Mindanao earthquake. "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," he said. PIRA plans to extend the PCIF to typhoon and flood risks, grow its membership and review rates. An agricultural insurance pool is also being explored for the first quarter of 2027. Carriers holding more risk AM Best's June 2026 market segment outlook on the Philippines' non-life sector found that primary insurers have been raising catastrophe net retentions to manage reinsurance costs. That shift has made carriers more sensitive to climate events and exposed weaknesses in traditional risk models. "Another key potential headwind is the increasingly volatile weather conditions, which are placing significant pressure on non-life insurers and contributing to greater volatility in underwriting results," said Susan Tan, senior financial analyst at AM Best. Victoria Ohorodnyk, senior director of analytics at AM Best, identified where the sharpest commercial exposure sits. "The event underscores the importance of catastrophe risk management for insurers – a greater risk for insurers would be if an event happens in one of the more commercial centers in the country, such as Manila," she said. What this means for brokers placing risk in the Philippines The government layers now being put in place (sovereign parametric cover, LGU-level instruments and a still-incomplete private pool) reduce demand for commercial placement only in those specific segments. Commercial property, SME assets and household exposures outside every layer remain largely uninsured. With typhoon and flood outside the PCIF's current scope, and fewer than one in five non-life insurers inside the pool, capacity for those perils still depends heavily on offshore reinsurance. That dependency is the placement reality brokers are managing now, whatever the sovereign layer does. GlobalData projects Philippine general insurance gross written premium will grow at a compound annual rate of 9.2%, from ₱161.4 billion (US$2.8 billion) in 2026 to ₱229.2 billion (US$3.9 billion) by 2030. Property insurance, the leading line, accounted for 36% of general insurance premium in 2025. Whether that growth closes the catastrophe gap, or simply adds volume in lines already placed, is a question the market has not yet answered. Source: www.insurancebusinessmag.com

The Philippine Insurers’ Club is pleased to share the October 3 episode of Chikahan with Shot & Ran, hosted by Annie Shotwell and Ace Randrup, with special guest Mitch Rellosa, Managing Director of the Philippine Insurers and Reinsurers Association (PIRA). We are grateful to Mitch for making time to join Annie and Ace on the first Saturday of Insurance Consciousness Month—a very fitting opportunity to support one of the month’s important objectives: reaching the insurance-buying public and helping more Filipinos understand the importance and value of insurance protection. During the program, Mitch shared valuable insights on microinsurance, agricultural insurance and the agriculture value chain, bancassurance, and the changing insurance landscape. He also discussed how insurance agents and intermediaries can continue to adapt and remain relevant as the industry evolves and distribution channels become more diverse. It was an informative yet relaxed conversation that brought insurance closer to the public—making industry topics easier to understand, more relatable, and relevant to everyday life. Our thanks to Mitch Rellosa for generously sharing his time, experience, and insights, and to Chikahan with Shot & Ran for providing another platform through which we can help promote greater insurance awareness. We invite our fellow insurance practitioners, friends, and the public to watch the episode, share it, and help us spread the message of Insurance Consciousness Month.

PIRA is the umbrella organization representing the collective interests of the non-life insurance industry in the Philippines since 1954. NEWS Another Successful Philippine Insurance Cup in the Books PIRA'S Executive Director Re-elected to the ARISE Philippines Board of Directors PIRA Joins OECD and OPASRC in Shaping the Philippines' Path to Climate-Resilient Public Finance What a day it was! 135 golfers teed off at Riviera's legendary Langer Course — widely regarded as one of the toughest layouts in the Philippines — and they rose to the challenge in style. The course tested every player's game, and play naturally ran a little longer than usual. But you wouldn't have known it from the smiles on the course: feedback was unanimous — fun, challenging, and blessed with perfect weather from start to finish. The Philippine Insurers and Reinsurers Association (PIRA) is proud to announce that its Executive Director, Michael Rellosa, has been re-elected as a member of the ARISE Philippines Board of Directors for the 2026–2029 term. The Philippine Insurers and Reinsurers Association (PIRA) took part in the Working-Level Consultations on Advancing Sustainable Communities through Public Finance Resilience, organized by the Organization for Economic Co-operation and Development (OECD) in partnership with the Office of the Presidential Adviser for Sustainable and Resilient Communities (OPASRC), held on 13–14 July 2026 at Centro de Turismo Intramuros, Manila. September 25, 2026 Read More July 24, 2026 Read More July 15, 2026 Read More Member Companies To play, press and hold the enter key. To stop, release the enter key.

Industry News EAIC announces new executive board members for 32nd EAIC The East Asian Insurance Congress (EAIC) announced the incoming executive board members for the 32nd EAIC. Mr Koji Takahashi was announced at EAIC President, while Dr Somporn Suebthawilkul was announced as Vice President. The announcements were made during the closing ceremony of the 31st EAIC last night, in Tokyo. Other appointment holders for the upcoming edition of the Congress are: Mr Hiroshi Tange, Secretary-Treasurer Mr Oran Vongsuraphichet, Assistant Secretary-Treasure Sep 21 Travel insurance faces exposure after Nepal flash floods Travel insurance faces mounting exposure as hundreds of foreign tourists are reported missing following a deadly flash flood that swept through villages along the Nepal-China border. Local media, citing the Nepal Tourism Board, said 517 foreign tourists from 33 countries were among 570 tourists reported missing following Wednesday’s flash flood, with India accounting for the largest share. Some reports, however, put the number of missing foreign tourists as high as 700. At le Aug 28 An Invitation to AIC's 8th Asian Captive Conference (ACC) 2026 To All Members, Registered Representative and/or Accredited Alternate Representative/s, The ASEAN Insurance Council (AIC), a supporting partner of the Labuan International Insurance Association (LIIA) and Labuan IBFC Inc., sends an invitation for the 8th Asian Captive Conference (ACC) 2026. Details are as follows: DATE : 10 September 2026 VENUE : Sime Darby Convention Centre in Kuala Lumpur, Malaysia As a supporting partner, the AIC offers its members the following exc Aug 24 Twin disasters expose Philippine insurance gap Only 10 of 51 nonlife insurers belong to the disaster risk pool. A private-sector insurance pool for major disasters in the Philippines faced its first major earthquake in June, but limited reported claims left questions over whether it can absorb a large-scale loss. The Philippine Catastrophe Insurance Facility (PCIF), which pools earthquake risk amongst insurers, was tested by the magnitude 7.8 earthquake that struck Sarangani province in the nation’s south in June. "With t Aug 17 Asia Insurance Industry Awards 2026 finalists revealed The finalists for the 30th Asia Insurance Industry Awards have been revealed, with 49 of the region's top insurers, reinsurers, brokers, risk managers and service providers making the shortlist. The awards are well known for their stringent criteria and transparent selection process, overseen by a panel of expert judges from across the insurance industry. This year, the awards attracted almost 185 entries in 16 categories. For the first round of remote selection, judges went Aug 13 Typhoon losses expose the gap Philippine crop insurance was never built to close A co-insurance pool launching next year is designed to address it Catastrophe & Flood By Roxanne Libatique of INSURANCE BUSINESS The P135.3 million in agricultural losses triggered by typhoons “Luis” and “Maymay” and an enhanced southwest monsoon is not, by recent Philippine typhoon season benchmarks, an outsized event. Its significance for insurance professionals lies elsewhere: it arrives as the Philippines prepares to launch its first agricultural co-insurance pool in Janu Aug 12 1 2 3 4 5 September 2026 (2) 2 posts August 2026 (6) 6 posts July 2026 (6) 6 posts June 2026 (12) 12 posts May 2026 (18) 18 posts April 2026 (6) 6 posts March 2026 (6) 6 posts February 2026 (7) 7 posts January 2026 (5) 5 posts December 2025 (3) 3 posts November 2025 (9) 9 posts October 2025 (14) 14 posts

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