Last July 21 and 22, the Insurance Institute for Asia and the Pacific together with Insurance Philippines held the 2021 Insurance Summit which incidentally was the first time the annual event was held virtually. Hosted by the Philippine Insurers and Re-Insurers Association (PIRA) Executive Director Mitch Rellosa, the event saw stakeholders of the Philippine Insurance industry get together to discuss environmental issues, the pandemic, innovations and disaster management.
The first day of the summit featured updates on the general insurance, life insurance and reinsurance markets and a discussion on climate change and natural hazards and their impact to the Philippines and to the insurance industry as a whole.
The second day featured continuing discussions on climate change in terms of opportunities and risk for insurers, agricultural diseases and finally, the important role that insurance plays in driving sustainability and resilience which was presented by Co-Chair Alex Pama.