The Insurance Industry is one of the most regulated Industries in the country second to the Banking Industry, with both being in the financial services sector. However in the Philippines, the Insurance Industry’s main regulator, the Insurance Commission counts other Industries not related to Insurance under its regulatory ambit and this includes Health Maintenance Organizations, the Pre-Need Industry, The Mutual Benefit Associations and their respective ancillary industries.
In the Philippines, remittances from both domestic and international sources has continued to grow at a steady pace for the past few years and this trend is expected to last with sustained local and international migration.
Health regulation is one of the vital components of the Philippines health system. The health system is a broad umbrella term, which includes the formalized health care systems, which are formalized; legally regulated financing; and the provision of health (medical) services, inclusive of preventive, curative and palliative interventions provided by trained health personnel.