Joemar Flores, a spindly 28-year-old, gestured across his family’s farmland, nestled between a steep hill and a river, and expressed gratitude for the rice paddies in the distance. They’re still there, producing food and an income for him, thanks in …
The Philippines is readying an insurance plan that will protect the Southeast Asian nation from infrastructure losses caused by natural disasters, seeking to better respond to climate change risks. The government will put in place a national indemnity insurance program …
SINGAPORE – The rapid intensification that turned this week’s Typhoon Rai into the strongest storm to hit the Philippines this year surpassed all predictions, forecasters said, leaving nearly 400 people dead and almost a million displaced. While it’s unclear exactly …
Severe weather disruptions hit Malaysia and the Philippines, leaving a trail of destruction among nations most prone to natural disasters. Typhoon Rai, a super typhoon before slamming into the Philippines on Thursday, left 208 dead along its path. More than …
Guy Carpenter & Co., the reinsurance broker and subsidiary of Marsh & McLennan Cos., announced the launch of a new Philippines Flood Model. The probabilistic model provides countrywide coverage and enables insurers to assess flood exposure, one of the most …
The Philippines, among the world’s most disaster-prone nations, sold its maiden foreign-currency catastrophe-linked bonds to help cover costs of major calamities, in conjunction with the World Bank. The dual-tranche transaction consists of a $150 million issuance against losses from tropical …
At least six people died and tens of thousands fled their homes as monsoon rain triggered flooding in the Philippine capital and nearby areas, reminiscent of the deadly Typhoon Ketsana nine years ago. About 1.1 million people have been affected …
Starr Cos. announced the appointment of Ambassador Jose L. Cuisia Jr. as chairman of Starr International Insurance Philippines Branch, a branch of Starr International Insurance (Asia) Ltd., a company established and licensed to write general insurance in Hong Kong. Cuisia …
