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Insurance Industry Without Irukwu

Insurance Industry Without Irukwu
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First catastrophe insurance facility rolls out this quarter

First catastrophe insurance facility rolls out this quarter
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.

Dennis Funa , National Reinsurance Corp , Insurance Commission , Reinsurer Association , File First , Philippine Catastrophe Insurance Facility , National Reinsurance , Philippine Insurers , தேசிய மறுகாப்பீடு கார்ப் , காப்பீடு தரகு , கோப்பு முதல் , பிலிப்பைன் பேரழிவு காப்பீடு வசதி , தேசிய மறுகாப்பீடு , பிலிப்பைன் காப்பீட்டாளர்கள் ,

IC targets rollout of Catastrophe Insurance Facility in Q1

MANILA, Feb. 18 The Insurance Commission (IC) is targeting to roll out in the first quarter of 2021 the Philippines’ first private sector-led catastrophe insurance facility that is designed to heighten the country’s financial resilience against natural disasters.
IC Commissioner Dennis Funa said the Commission, the National Reinsurance Corp. of the Philippines (Nat Re) and the Philippine Insurers and Reinsurers’ Association (PIRA) have worked together in finalizing the Philippine Catastrophe Insurance Facility (PCIF), which would allow non-life insurers to cede their catastrophe risks to this insurance pool or facility.
The PCIF, which will then share the pooled risks back to the non-life insurers, will enable these companies to more efficiently manage their catastrophe exposures and boost their capacity to take in more catastrophe risks. ....

Dennis Funa , National Reinsurance Corp , Insurance Commission , Reinsurer Association , National Reinsurance , Philippine Insurers , Philippine Catastrophe Insurance Facility , Finance Secretary Carlos Dominguez , தேசிய மறுகாப்பீடு கார்ப் , காப்பீடு தரகு , தேசிய மறுகாப்பீடு , பிலிப்பைன் காப்பீட்டாளர்கள் , பிலிப்பைன் பேரழிவு காப்பீடு வசதி , நிதி செயலாளர் கார்லோஸ் டமிஂகெஸ் ,

IC targets Q1 rollout for catastrophe insurance

Published February 18, 2021, 1:46 PM
The Insurance Commission (IC) wants to roll out the first private sector-led catastrophe insurance facility designed to heighten the country’s financial resilience against natural disasters.
Insurance Commissioner Dennis B. Funa said they are finalizing the Philippine Catastrophe Insurance Facility (PCIF), which would allow non-life insurers to cede their catastrophe risks to this insurance pool or facility.
Funa said in his report to Finance Secretary Carlos G. Dominguez that they are targeting to roll out PCIF within the first-quarter of 2021.
He said the IC is working with the National Reinsurance Corp. of the Philippines (Nat Re) and the Philippine Insurers and Reinsurers’ Association (PIRA) to establish the PCIF. ....

Dennisb Funa , Carlosg Dominguez , National Reinsurance Corp , Insurance Commission , Reinsurer Association , Commissioner Dennis , Philippine Catastrophe Insurance Facility , Finance Secretary Carlos , National Reinsurance , Philippine Insurers , தேசிய மறுகாப்பீடு கார்ப் , காப்பீடு தரகு , ஆணையர் டென்னிஸ் , பிலிப்பைன் பேரழிவு காப்பீடு வசதி , நிதி செயலாளர் கார்லோஸ் , தேசிய மறுகாப்பீடு , பிலிப்பைன் காப்பீட்டாளர்கள் ,

PHL to launch first catastrophe insurance facility this quarter

BusinessWorld
February 19, 2021 | 12:06 am
THE INSURANCE Commission (IC) plans to launch this quarter the Philippine Catastrophe Insurance Facility (PCIF) that will help guard the country against natural disasters.
The PCIF will help nonlife insurance companies better manage disaster-related exposures and expand the sector’s capacity to take on more risks, the Department of Finance said in a statement on Thursday, citing a report from the IC.
“We recognize the significant role that the nonlife insurance industry should play in ensuring the Philippines’ catastrophe resilience and in bridging the catastrophe insurance gap that we need to urgently address as our country is among the most vulnerable to the onslaught of natural calamities,” Insurance Commissioner Dennis B. Funa was quoted as saying. ....

Beatricem Laforga , Dennisb Funa , National Reinsurance Corporation Of The Philippines , Insurance Commission , Reinsurer Association , Philippine Catastrophe Insurance Facility , Commissioner Dennis , National Reinsurance Corporation , Philippine Insurers , தேசிய மறுகாப்பீடு நிறுவனம் ஆஃப் தி பிலிப்பைன்ஸ் , காப்பீடு தரகு , பிலிப்பைன் பேரழிவு காப்பீடு வசதி , ஆணையர் டென்னிஸ் , தேசிய மறுகாப்பீடு நிறுவனம் , பிலிப்பைன் காப்பீட்டாளர்கள் ,