AFTER more than two years of being virtually locked down in their offices and homes, executives of the insurance industry are finally going out to hit the fairways for the Insurance Commissioner's Cup Golf Tournament at the south course of the Canlubang Golf and Country Club on Friday, July 29, 2022. This is a good thing, as more issues are resolved on the fairways than in board rooms, and in the insurance industry there is no dearth of issues that need to be ventilated and decisions arrived at. Hot issues include but are not limited to the industry's response to disaster risk reduction, the Philippine Catastrophe Insurance Facilities 1 and 2, the hopeful introduction of agriculture insurance into the portfolio mix, the continuing pandemic and how best to address it, IFRS 17, a P1.3 billion net worth requirement, nature- based solutions, ESG requirements, and other nascent topics that these executives should start to familiarize themselves with. This tourney is not only a welcome respite but more importantly, an opportune time for insurance honchos to exchange notes.
This tournament is being organized by the Philippine Insurers and Reinsurers Association (PIRA), with the support of the Insurance Institute for Asia and the Pacific (IIAP) and the Philippine Insurers Club (PIC). It is, of course, sanctioned by no less than Insurance Commissioner Dennis B. Funa himself who will be the one awarding the prizes to the winners. Invitations have been sent to the deputy commissioners as well. Deputies Erickson Balmes, Bong Florendo and Randy Serrano hopefully will be able to make it as this will be an opportune time to thank them all for their valuable contributions to the industry.
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