Republic Surety and Insurance Company, Inc. (Republic) together with the Society of Risk Management Professionals in the Philippines (SRMP) co-organized the 2nd Annual Risk Management Summit in the Philippines on October 8, 2013 at the First Pacific Leadership Academy in Antipolo City.

With the theme, “From Risk to Reward: Risk Management linking what’s best for all Stakeholders”, the summit extended the application of risk management principles in ways that benefit and strengthen the relationship between the organization and entities which affect and are affected by its operations – the stakeholders. Under the new measure of corporate success in terms of economic, social and environmental sustainability, the summit provided participants with risk solutions aimed at optimizing risks and creating a positive impact to their businesses and their respective stakeholders.

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The highly successful summit was well attended by executives, senior officers, managers and employees of MERALCO, PLDT, SMART, MPIC, SAN MIGUEL and LOPEZ Group of companies who are tasked to manage the insurance requirements of their respective companies.

RSIC’s Vice President and Chief Marketing Officer, Mr. Ricardo G. Hernandez graciously opened the summit and introduced the relevance of the theme to both professional and practical aspects of every individual. Meanwhile, Meralco’s Senior Vice President and Head of Human Resource and Corporate Services, Mr. Ramon B. Segismundo, in his keynote address, shared the concept of embracing risks as well as being fully prepared for them and how this type of risk perceptiveness can help any organization achieve its goals and objectives.

For the first half of the summit, Mr. Francis S. Savari, Head of Client Portfolio Management of Munich Reinsurance Singapore, discussed the impact of culture risk to international marketing; Mr. G. Roy S. Sharma, Managing Director and Principal Officer of Asia Reinsurance, Ltd., delved on liability risks faced by directors and officers of any business organization; Mr. Edgar Z. Dapiton, Principal Consultant of Risk Matters, elaborated on the application of risk engineering concepts to both commercial and industrial enterprises; and Dr. Aura C. Matias, Dean of the College of Engineering at the University of the Philippines Diliman, discussed effects of occupational hazards and introduced the concept of ergonomics as a tool to enhance productivity and protect the well-being of employees.

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Meanwhile, in the afternoon session, Dr. Renato U. Solidum, Jr., Head of Philippine Institute of Volcanology and Seismology (PHIVOLCS), shared strategies on the management of earthquake risks with regard to the intensity and extent of hazards, exposure and vulnerabilities of Philippine communities; Mr. David Kinloch, Consultant at Asian Development Bank (ADB), delved deeper on the management of risks under a crisis situation; Atty. Elmer D. Nitura, Head of Corporate Governance Office at Smart Communications, Inc., shared PLDT’s approach in meeting corporate governance requirements and challenges; and finally, Dr. Pedro P. Benedicto, Jr., President of Republic Surety and Insurance Company, Inc., integrated the principles derived from the Stakeholders’ Theory in the ASEAN Corporate Governance Scorecard.

Our dynamically changing and ever-increasingly challenging business environment have brought to the forefront the need to anticipate crises, adapt when do they occur, and implement strategies to recover and resume normal operations after the event. More important than knowing that you are at risk is what you would do to address it, so that risk becomes an opportunity for you and your business. “How does your business survive a crisis?” and “How do you protect the interests of your stakeholders?” are just some of the critical questions the 2nd Risk Management Summit has succeeded in addressing and resolving.