The Insurance Commission has also activated dedicated assistance channels in Cebu and Manila, aiming to streamline access to insurance services for those affected.
Having low coverage in the Southeast Asian region presents a major opportunity for policymakers and insurers to strengthen economic security, the study finds
Hong Kong raised its highest storm signal as Super Typhoon Ragasa swept close, flooding districts and halting transport, with insurers bracing for Mangkhut-scale losses.
The Australian Reinsurance Pool Corporation noted that the extension of SME discounts aims to incentivise risk mitigation efforts, aligning with its 2025-2029 strategic priorities.
Heavy monsoon rains since June have triggered catastrophic flooding and landslides across India and Pakistan, leaving more than 1,000 dead and hundreds of thousands displaced.
The approaching storm has already forced evacuations across northern Philippines and could trigger Hong Kong's longest airport closure in recent history.
