{"id":3034,"date":"2025-10-30T11:30:20","date_gmt":"2025-10-30T12:30:20","guid":{"rendered":"http:\/\/www.xinetica.com\/?p=3034"},"modified":"2025-10-30T14:28:19","modified_gmt":"2025-10-30T14:28:19","slug":"seadrif-looking-at-risk-pool-expansion-to-cover-public-assets","status":"publish","type":"post","link":"http:\/\/www.xinetica.com\/index.php\/2025\/10\/30\/seadrif-looking-at-risk-pool-expansion-to-cover-public-assets\/","title":{"rendered":"SEADRIF looking at risk pool expansion to cover public assets"},"content":{"rendered":"

The Department of Finance (DOF), the Philippine government agency responsible for managing the country\u2019s fiscal policies, public finances, and economic resilience, is leading a new regional initiative aimed at helping Southeast Asian nations protect vital public assets and sustain essential services in the aftermath of natural disasters.<\/p>\n

\"\"This regional effort demonstrates President Ferdinand R. Marcos Jr.\u2019s commitment to safeguarding Filipino families and communities from the devastating impacts of calamities.<\/p>\n

During the 8th Technical Meeting of the Southeast Asia Disaster Risk Insurance Facility (SEADRIF) held in Kyoto, Japan, last October, member countries agreed to explore the establishment of the SEADRIF Sovereign Asset and Fiscal Empowerment (SEADRIF-SAFE) Facility, a groundbreaking program proposed by the Philippines through the DOF.<\/p>\n

The SEADRIF-SAFE will integrate disaster insurance directly into development projects supported by bilateral and multilateral partners. Through this approach, critical public assets, such as hospitals, schools, roads, and government buildings, will have built-in financial protection, ensuring governments can continue providing services and begin rebuilding immediately after disasters occur.<\/p>\n

By sharing risks at the regional level, member countries can make insurance more affordable, broaden protection for public assets, and accelerate post-disaster recovery, ultimately strengthening the safety and resilience of communities across Southeast Asia.<\/p>\n

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\"Ascot<\/a><\/div>\n<\/div>\n

This initiative builds on the DOF\u2019s continuing efforts to enhance disaster risk financing and insurance in the Philippines. It also aligns with the country\u2019s upcoming ASEAN+3 Finance Process Co-Chairmanship with Japan in 2026, where advancing regional cooperation on disaster preparedness and climate resilience will be a central focus.<\/p>\n

At the national level, the DOF is already implementing the National Indemnity Insurance Program (NIIP) to protect government-owned assets, particularly public school buildings, through comprehensive insurance coverage provided by the Government Service Insurance System (GSIS).<\/p>\n

As the lead institution in mobilising financial resources for climate action, the DOF is also partnering with the Global Shield Secretariat and the Institute for Climate and Sustainable Cities (ICSC) to strengthen the Philippines\u2019 climate and disaster risk finance and insurance systems.<\/p>\n

\u201cDisasters are not just national problems, they are regional challenges that demand global solutions. Through SEADRIF-SAFE, which the Philippines champions, we are taking a proactive and united step to protect what truly matters: our people and the public assets they rely on,\u201d Finance Secretary Ralph G. Recto commented.<\/p>\n

\u201cThis is not just about preparing for disasters. It is a way to ensure a strong economy and future, not just for the Philippines, but for the entire Southeast Asia,\u201d he added.<\/p>\n

The post SEADRIF looking at risk pool expansion to cover public assets<\/a> appeared first on ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Department of Finance (DOF), the Philippine government agency responsible for managing the country\u2019s fiscal policies, public finances, and economic […]<\/p>\n","protected":false},"author":1,"featured_media":2168,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"_links":{"self":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3034"}],"collection":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/comments?post=3034"}],"version-history":[{"count":3,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3034\/revisions"}],"predecessor-version":[{"id":3037,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3034\/revisions\/3037"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/media\/2168"}],"wp:attachment":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/media?parent=3034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/categories?post=3034"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/tags?post=3034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}