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The safety net

Article - November 17, 2011
Social welfare and insurance can help alleviate the worst effects of natural disasters and poverty
As food and fuel prices rise, the global economy falters, and typhoon devastation increases, more Filipinos are being pushed close to the poverty line.

The Department of Social Welfare and Development (DSWD), is tasked with reversing this trend. Hon. Corazon Juliano-Soliman, Secretary of DSWD, explains: “We’re committed to addressing inter-generational poverty by ensuring children go to school 85 per cent of the time, families go to health centers once a month; and the poorest get fuel and rice subsidies. We’ve already reached a million families and aim to increase this to 1.3 million in 2011. But to go further, we need foreign investment in the country and economic growth to lift Filipinos out of poverty.”

Hon. Vida T. Chiong, Deputy Commissioner of the Philippine Insurance Commission (IC) believes all Filipino’s should have the opportunity to secure insurance protection by 2020. However, key challenges include lack of affordability, and a lack of awareness of insurance amongst Filipinos. Ms Chiong continues: “We focus on educating Filipinos about the value of insurance and promoting microinsurance for the poor. We aim to foster an environment of increased insurance penetration and robust insurance industry growth.”