Mission & Vision

The insurance industry has undergone a great deal of change in recent years. And that has been reflected by changes in PIRA as well.

PIRA envisions the following…

A sustainably profitable and growing insurance industry in the Philippines.

An industry trusted and recognised as contributing to society and the economy.

A trade body (PIRA) recognized as providing leadership and authoritative collective voice for the insurance industry in the Philippines.

Our mission is to provide leadership on issues requiring the industry’s collective strength and to shape and influence decisions that will benefit the industry collectively.

Specifically, PIRA seeks to:

  • Engage in pro-active research, policy analysis and lobbying;
  • Represent the industry in matters of public policy; and
  • Present a positive image of the industry to the public

One Response to Mission & Vision

  1. Gerardo Ty Veloso says:

    Dear Mr. Mario Valdes
    PIRA: Gen. Manager

    Allow me to request your kind concern on the matter of a patently unjust estimate of loss, made on March 12, 2010, by the Pacific International Loss Adjusters on behalf of the Oriental Assurance Corporation, whereby this company is obligated to pay me only 610,333.80 pesos for loss indemnity on my two homes in Provident Village, Marikina City, insured with this company.

    These two homes were insured by Oriental for 3,000,000.00 pesos each on the house, and 500,000.00 pesos each on the contents, therefore total exposure of Oriental is 7,000,000.00 pesos.

    These two homes were devastated by Typhoon Ondoy and its consequential flooding, with muddy water reaching up to 4.5 feet high on the second floor of one, and 2.5 feet on the second floor of the other.

    Typhoon Ondoy took place on September 26, 2009, to date I have refused to accept the adjusted loss payment computed by Pacific for Oriental: because the amount is patently too low, wherefore unjust.

    On November 12, 2010, Pacific revised its computation in order to increase the indemnity to 1,000,917.40 pesos, communicating this offer to me in a formal letter.

    I again rejected this revised offer for still being too low as to be patently unjust.

    Then sometime at the beginning of January 2011, the insurance sales man from Oriental servicing me informed me verbally that Oriental is willing to offer me as their last gesture the indemnity of 1,100,000.00 pesos.

    I also reject the new offer for its still being too low and thus patently unjust.

    1,100,000.00 is not even enough to have the two homes re-painted properly, completely.

    I want 3,000,000.00 as loss indemnity for the two homes.

    The fact is that after Ondoy my wife and I were so tired and depressed that we did not have the strength to undertake the laborious work of meeting the requirements of Pacific adjusters.

    So Oriental and Pacific offered to do everything for us.

    Two adjusters and a photographer inspected the homes and made very short lists of damaged contents in each home, and downplayed the gravity and extent of damages to the two homes in regard to their structure.

    The adjusters took a lot of liberties to minimize their appraisal of the destruction of the homes and the contents thereof.

    Then also I can see that they took a lot of liberties in regard to the procedure they used: in order to under-value the amount of indemnity to pay the policy holders, my wife and I (my dear wife died last year 2010, on July 28).

    The Pacific adjusters have informed me that they will not anymore revise their adjustment, because Oriental will not pay any amount bigger than their last offer, namely, 1,100,000.00 pesos, which was verbally delivered to me through their sales man.

    I am appealing to the PIRA with you as the officer in charge to convince both Oriental and Pacific to continue revising their adjustment, in order to reach a truly equitable indemnity for my two devastated homes.

    I sincerely believe that any equitable indemnity should be at least 3,000,000.00 pesos.

    Yours truly,

    Gerardo Ty Veloso
    Room 605 MRL Tower
    124 Malakas, Diliman, Q.C. MMDA
    Tels.: 351-8168, 973-0753
    Cellphone: 09163033834

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