GeoRisk Philippines is a government-led multi-agency initiative to serve as the central resource of information on natural hazards and risk assessment. It aims to support the country’s resilience against natural hazards and risks. The availability of hazard-related information allows land developers, property owners and buyers, real-estate investors, local government units, national government agencies and communities, plan and prepare for natural hazards.
The government initiative can serve the non-life insurance industry to assess risks for earthquakes, floods, and other natural calamity-related insurance products. While not exactly providing catastrophe risk modelling, it would identify risks to support initial underwriting assessments.