The strong tremor that hit the southern Philippine island of Mindanao is expected to result in limited insured losses due to the country's low insurance penetration, according to a commentary by AM Best.
Given the low insurance take-up in the Philippines, especially for homes, the insurance industry expects to see a wide divergence between insured and economic losses due to the 7.8 magnitude offshore earthquake that struck the southern part of the country on 8 June 2026.
Over 2000 facilities under the Guaranteed and Accessible Medications for Outpatient Treatment (GAMOT) package providers nationwide are ready to give GAMOT members 75 essential medicines at no cost, according to the Philippine Health Insurance Corporation (PhilHealth).
Coface has appointed Mr James Yau as Head of Commercial, Southeast Asia (SEA) and Head of Mid-Market, APAC.
Regulators, investors and executive leadership teams are increasingly treating cyber incidents not as technical failures but as matters of governance, resilience and accountability.
Climatic conditions this year suggest that conditions are conducive to the formation of typhoons in the Northwest Pacific, which are more likely to hit Japan, the Greater China region or South Korea.
The Philippines' finance chief is being sued over the alleged diversion of funds from the country's state insurance institutions to the national treasury. The charges were filed by health reform advocate and former adviser to the Department of Health, Dr Tony Leachon. He filed plunder and technical malversation cases before the Office of the Ombudsman against Finance Secretary Ralph Recto over the PHP60bn ($1bn) diversion of funds from PhilHealth reserve funds and PHP107bn from the Philippine Deposit Insurance Corporation (PDIC).
As it continues the liquidation process, The Philippines' insurance regulator, the Insurance Commission, has revealed that Danvil has paid out over PHP1.62bn ($26.31m) in claims.
The Philippine Health Insurance Corporation (PhilHealth) has paid out PHP143.22bn ($2.32bn) in benefit claims nationwide from 1 January 2026 to 30 Apri, 2026, marking a 56.15% increase compared to the PHP91.72bn released during the same period last year, reported the Philippine News Agency.
The Philippines and the United Arab Emirates are working toward establishing a formal health insurance arrangement that would extend coverage to Filipino workers in the Gulf state, according to the Department of Health.