Philippines: Structuring the Public-Private Earthquake Insurance Pool in the Philippines

Sovereign Project | 45433-001


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Project Name Structuring the Public-Private Earthquake Insurance Pool in the Philippines
Project Number 45433-001
Country Philippines
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 8037-PHI: Developing a Public-Private Earthquake Pool in the Philippines
Technical Assistance Special Fund US$ 225,000.00
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Governance and capacity development
Sector / Subsector

Finance - Insurance and contractual savings

Gender Equity and Mainstreaming
Project Rationale and Linkage to Country/Regional Strategy
Project Outcome
Description of Outcome
Progress Toward Outcome The project outcome is as follows: "Earthquake insurance pool model is approved by the Insurance Commission, Department of Finance and selected insurance and reinsurance companies". The project model has been approved and the project is now moving into implementation stage.
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)

1. Earthquake insurance pool models and options have been reviewed with major stakeholders in Government, PIRA and the reinsurance companies in coordination with major donors.

2. The Earthquake insurance pool model has been agreed by stakeholders.

3. Selected IC, DOF, BSP and PIRA representatives have viewed the open platform model and / or are already using it in their ongoing insurance business.

4. The implementation of the EQ Catastrophe insurance pool will be udnertaken under the upcoming PPTA.

Geographical Location
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Business Opportunities
Consulting Services Consultants and resource persons will be hired according to Asian Development Bank Guidelines on the Use of Consultants (2010, as amended from time to time). Disbursements under the TA will be in accordance with the ADB Technical Assistance Disbursement Handbook (2010, as amended from time to time). International Consultants: (i) Insurance and Reinsurance Expert (2.5 person-months, intermittent), and (ii) Legal Expert (2 person-months, intermittent). National Consultant: Institutional and Financial Development Expert (3 person-months, intermittent).
Responsible ADB Officer Madeleine Varkay
Responsible ADB Department Southeast Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SERD
Executing Agencies
Asian Development Bank
6 ADB Avenue, Mandaluyong
Metro Manila, Philippines
P.O. Box 789, 1099 Manila,
Concept Clearance 27 Dec 2011
Fact Finding 22 Jul 2011 to 22 Jul 2011
Approval 27 Dec 2011
Last Review Mission -
Last PDS Update 06 Dec 2012

TA 8037-PHI

Approval Signing Date Effectivity Date Closing
Original Revised Actual
27 Dec 2011 - 27 Dec 2011 31 Aug 2012 31 May 2014 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
225,000.00 0.00 0.00 0.00 0.00 0.00 225,000.00 27 Dec 2011 208,372.98

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Safeguard Documents

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Evaluation Documents

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