RIMANSI conducted a three-day writeshop on Mi-MBA Corporate Governance Manual last June 1-3, 2015 at the New Horizon Hotel, Mandaluyong City. The managers of 12 MicroinsuranceMBAs, as well as their officers and staff, participated. Mutya Mejia, consultant, along with RIMANSI Secretariat facilitated the event. Good corporate governance is not new to Mi-MBAs in the country.
Although it is being implemented among microinsurance organizations, there is a need to institutionalize and practice corporate governance through written policies and guidelines that will strengthen their operations. The writeshop primarily aimed to assist Mi-MBAs in drafting a corporate governance manual by consolidating existing policies being implemented in each of their organizations. The ASEAN Corporate Governance Scorecard (ACGS) served as their framework to ensure that good governance practice, as enumerated in the ACGS, are integrated into each of the manuals. Through the write shop, RIMANSI was able to help Mi-MBAs equip themselves in following and exceeding compliance standards set out by the Insurance Commission, the insurance industry’s main regulatory body. The 12 Mi-MBAs were able to craft a draft governance manual as their main output, which will then be presented to each of their Board of Trustees for approval. Afterwards, this will be submitted to the Insurance Commission to form part of the compliance requirement.
