Officials say bundled insurance and credit can strengthen financing for climate-vulnerable sectors.
The Bangko Sentral ng Pilipinas and the Insurance Commission highlighted the role of parametric insurance in expanding credit access for climate-exposed sectors during a webinar on May 13, 2026.
Parametric insurance provides automatic payouts once pre-agreed weather thresholds are triggered. Officials said bundling the product with loans could help financial institutions continue lending in climate-vulnerable areas while improving risk management.
During the webinar, “Bundled for Impact: Credit-Linked Parametric Insurance in Practice,” BSP Assistant Governor Pia Bernadette Roman-Tayag described parametric insurance as both a resilience and bankability tool.
“If climate-exposed sectors become more resilient, they become more bankable, which leads to stronger enterprises, more resilient supply chains, and an economy better able to withstand shocks,” Roman-Tayag said.
More than 400 bankers, insurers, and development partners joined the webinar, which tackled international best practices, product design, credit integration, and distribution channels for bundled insurance products.
Participants included representatives from the German Agency for International Cooperation, CARD MRI, CLIMBS Life and General Insurance Cooperative, Philippine Insurers and Reinsurers Association, Land Bank of the Philippines, and Pioneer Insurance.
Insurance Commissioner Reynaldo Regalado said the partnership between lenders, insurers, and borrowers reflects “bayanihan in financial form.”
“A bank, an insurer, a cooperative, and a borrower all share a risk that none of them could carry alone,” Regalado said.
The webinar formed part of the BSP’s Knowledge Exchange Series on Sustainability, which supports the central bank’s push to strengthen financial resilience and promote inclusive financial solutions. PR
