MANILA, Philippines — Reinsurance demand in Asia-Pacific has increased amid rising natural calamities that affect economies in the region. GlobalData, a leading data and analytics company in the UK, said domestic insurers seek financial resources to cover massive risks as the frequency of catastrophes in the region has been on the rise. Reinsurance is defined as the practice where insurers transfer portions of their risk portfolios to other parties by some form of agreement to reduce the likelihood of paying a large obligation resulting from an insurance claim. Asia-Pacific is not new to calamities amid strong typhoons, earthquakes, and volcanic eruptions that are happening in the region.

Trust is the cornerstone of employee engagement and workplace productivity. According to an HBR study titled "Want Your Employees to Trust You? Show You Trust Them," a lack of trust between managers and employees can have a ripple effect. Employees who feel that they are trusted by their managers have more confidence in the workplace, are more productive, exert more effort, and go above and beyond what is expected from their role. While managers do a lot to gain the trust of their employees, and also trust their employees, it is important that this trust is manifested in a form which is perceivable by the employee. Unless and until an employee "feels" the trust, s/he will not reciprocate it.

In the early stages of the pandemic, the realities of indefinite remote work were not yet clear to many workers. At first, the set up may have sounded ideal: no commute, sweat pants all day and a break from heading into the office. But as the pandemic lingers, with no definitive end in sight, fatigue and burnout have surfaced as an important issues affecting many remote employees. “It’s harder now to compartmentalize our lives — work versus personal. When you work from home, your attention’s split — your dog’s barking, your partner might be working next to you, your children are running around — your concentration demands more emotional energy,” explains Kelcey Stratton, Ph.D., a clinical psychologist at Michigan Medicine whose training focuses on stress, trauma and resilience. “By the end of the day, we’re drained.”

Australians are working to set up an MCIS, while the Philippines has one, let's maximize its use and start by populating it with data.

The impact of the coronavirus disease 2019 (COVID-19) pandemic can be felt in all aspects of the business community, even as the rollout of vaccines begins in earnest. Though the end to the crisis may be in sight, it is certain that many of the changes that have happened over the past year will leave a lasting legacy for years to come. In the insurance industry, where there is a heavy emphasis on the client-seller relationship, the challenge of maintaining such relationships over the government-imposed community quarantine is considerable.

Malayan Insurance has again topped the Philippine non-life insurance industry, based on GWP in 2020, Insurance Commissioner Dennis Funa has said.