Death toll from floods, landslides climbs to 43, agricultural damage hits over P1B 

THE DEATH toll from flooding and landslides prompted by persistent rains since December has climbed to 43 while eight others have been reported missing, according to Jan. 30 update of the national disaster management council.    Rains are expected to continue this week in affected areas, including southern parts of Luzon, eastern Visayas, and parts of […]

Bill seeks mandatory insurance, hazard pay for journalists 

A BILL that will provide mandatory insurance benefits and hazard pay to journalists was filed in the House of Representatives, citing risks related to the job.    “During important assignments, journalists face the most dangerous situations like typhoons, disasters, floods, riots, war and conflicts, to name a few, in order to deliver the news to the […]

Regulator orders PhilHealth to detail impact of rate hike freeze

THE regulator for state-owned firms has ordered the Philippine Health Insurance Corp. (PhilHealth) to submit an analysis of how a hike suspension will affect its financial standing and operations.   The Governance Commission for GOCCs (GCG), which oversees government-owned and -controlled corporations (GOCCs), “strives to ensure that the GOCC sector, in this case PhilHealth, is fully […]

Senator seeks mandatory insurance coverage for construction workers

A SENATOR has filed a bill requiring the provision of insurance coverage to all construction workers, with adequate indemnification for any accident that causes disability or death.  “I believe that providing our construction workers with insurance coverage will compel their employers to adopt better safety mechanisms that will ensure the safety and security of their […]

DBM releases another P2-B fund for indigent PhilHealth members

THE DEPARTMENT of Budget and Management (DBM) has approved the release of another P2.02 billion to the Philippine Health Insurance Corp. (PhilHealth) for the National Government’s premium subsidy for indigent members this year.    In a statement on Monday, DBM said the fund covers the January to December period for 673,965 members who are identified as […]

New Huo Tech Partners with UK Insurance Giant, Further Enhancing the Security of Custodian Assets

EQS Newswire / 03/11/2022 / 12:02 UTC+8 New Huo Tech Partners with UK Insurance Giant, Further Enhancing the Security of Custodian Assets   [3 November 2022, Hong Kong]New Huo Technology Holdings Limited (“New Huo Tech“, stock code: 1611. HK) is pleased to announce that its subsidiary, New Huo Trust Company Limited(“NH Trust”), has obtained insurance […]

New normal gives rise to insurance products

FILIPINOS’ positive experiences with online transactions have led to the increase in the purchases of insurance and investment products, a recent study of an insurance firm showed. The new study, “The Modern Filipino Family: Exploring family dynamics and digitalization in the new normal,” by Manulife Philippines showed that most Filipinos recognize the convenience (45 percent), […]

Microinsurance providers’ collection of premiums up in Q1

THE TOTAL PREMIUMS collected by microinsurance providers rose in the first quarter, the Insurance Commission (IC) reported on Wednesday. The IC said in a statement that data from mutual benefit associations (MBAs) and life and nonlife insurance companies showed that total contributions increased year on year by 14.87% to P2.65 billion in the January-to-March period. […]

Rehired, directly hired OFWs exempt from compulsory insurance coverage 

THE PHILIPPINE Overseas Employment Agency (POEA) has suspended the implementation of a department order that required rehired and directly hired overseas Filipino workers (OFWs) to pay compulsory insurance coverage.   “The suspension will save our returning OFWs and those directly hired by foreign employees at least P1,700 worth of mandatory insurance coverage while reducing the requirements […]

Lloyd’s of London’s Ascot, Marsh provide insurance for Ukraine Black Sea corridor

LONDON — Lloyd’s of London insurer Ascot and broker Marsh on Friday launched marine cargo and war insurance for grain and food products moving from Ukrainian Black Sea ports, removing a hurdle to getting shipments underway. Russia and Ukraine signed a deal last week, brokered by Turkey and the United Nations, to reopen grain and […]

Budget, bureaucracy hinder PHL implementation of satellite data for agriculture 

By Patricia B. Mirasol, reporter Satellite technology that can speed up the work of crop insurers and help the government make macro-level decisions hasn’t gained traction in the agricultural sector due to budget constraints, bureaucratic resistance from those whose jobs may be rendered obsolete, and inadequate technical capacity among staff, according to a former official […]

Insurers urge IC to postpone hike in capital requirement

INDUSTRY LEADERS urged the Insurance Commission (IC) anew to postpone the mandated increase in their minimum capital set for this year’s end, saying many companies are still far from meeting the higher requirement. Philippine Insurers and Reinsurers Association (PIRA) Chairman Edgardo D. Rosario and Etiqa Philippines Chief Executive Officer (CEO) and Philippine Life Insurers Association […]

Fujitsu and Salesforce Japan start collaboration on healthcare solutions for the Japan market

TOKYO, Jun 21, 2022 – (JCN Newswire via – Fujitsu and Salesforce Japan Co., Ltd. (hereinafter Salesforce Japan) today announced the start of a collaboration to create new digital solutions for the healthcare sector in the Japan market. The two companies will promote this initiative by leveraging Fujitsu’s expertise in the trusted handling of […]