Established in 1952

Located at C/o Pacific Union Insurance

Company, 24/F Antel 2000, Valero Street,
Salcedo Village, Makati City, Metro
Manila

HISTORY
The Philippine Insurers Club was formed fifty-eight
years ago by insurance practitioners with an ardent
desire for a forum of exchange of ideas. This semifraternal organization became the perfect venue for
keeping abreast with the insurance industry in
particular while cultivating fellowship among its
members.
January 12, 1952 - The Articles of Incorporation of
the Philippine Insurers Club was signed by the Officers
and Members of the Board of Directors
March 1952 - Organization formalities were
completed
1968 - PIC took charge of the organization,
management, and training (for the countrys
presentations) of the delegation of the Philippine

 May 1982 - The PIC General membership

adopted the Code of Ethics for the business of
insurance
1990 - Philippine Insurers Club proclaimed
Ambassador Alfonso T. Yuchengco, one of the
clubs founding directors, as the insurance man of
the Year .
May 1999 - The PIC Board Members for the year
1998-1999 conceived the idea of the PIC
sponsoring an Insurance Consciousness Week.
Through the collective effort of the Board and
General membership of the PIC and the full
support of the Insurance commissioner, Hon.
Eduardo Malinis, the last Week of /may from 1999
henceforth was proclaimed by then President
Joseph Estrada as Insurance consciousness week.

Objectives of the Organization

Executive of both insurance and insurancerelated institutions join this organization to

benefit from the following club objectives:
To establish and maintain fraternal relations
camaraderie among those involved in the
insurance profession;
To promote the adoption and application of
higher standards of ethical conduct in the
insurance profession;
to provide a means by which members may
enlarge and expand their knowledge of
insurance;
To advance public understanding of the

Functions and Power

The board of directors shall manage the affairs,

funds and properties of the Club.

Composition and Tenure of Office

The board of directors shall consist of nine (9)
regular members who shall be elected at the
annual membership meeting and shall serve for
one year or until their successors take office:
Provided, that no director shall serve for more than
three (3) consecutive terms; Provided further, that
at any time not more than two (2) regular members
of the board shall be agents, general agents,
insurance or reinsurance brokers; and Provided
finally, that the immediate past president of the
Club shall be an ex-officio member of the board

Regular meetings are

held monthly (usually
Meetings
on
the
Third
During its term the
Wednesday
of
the
board shall meet
regularly once a month Month) at prestigious
at a date, time and
five star hotels in
place as may be
Makati, the business
decided by the majority
of the members of the center of the country.
board. Special meetings In
these
meetings,
of the board may be
members and guests
called by the president
can
look
forward
to
a
or
by
at
least
three
Quorum
directors.
At
any meeting of the deeper appreciation of
board of director, five the interesting ideas of
in
the
(5) regular members leaders
of the board shall
government
and
constitute a quorum. private sectors.

Admission
Nominees shall be admitted to membership under the
following procedure:
A. Membership shall be by sponsorship only.
B. Nomination shall be made on a proposal form
furnished by the committee on membership by
circularizing members about the nominee and inviting
comments about him. The committee will then
recommend to the board of directors acceptance or
declination of the nominees membership.
C. A majority vote of the entire board of directors shall
be required for admittance to membership.
D. Upon approval by the board of directors, the
secretary shall furnish the nominee a membership
form accompanied by the required membership
entrance fee and annual dues must be submitted to
the secretary before the nominee is formally admitted.

Membership Profile
There are four categories of membership: regular, associate
affiliate, and honorary:
Regular members hold executive positions in either life or nonlife insurance/ reinsurance/ surety companies, or in insurance
agencies of in insurance brokerages.
Associate members refer to nonresident professional
reinsurance brokers, professional insurance adjusters, or a
regular member who, be resignation or retirement from his
executive position, no longer has the qualification for regular
membership.
Affiliate members are those occupying middle management
position of organizations/associations with the purposes identical
with the objectives of PIC.
Honorary membership is awarded to the Commissioner and
Deputy Commissioner of the Insurance Commission.
Starting with a modest number of thirty-one pioneer members,
the club boasts of about one hundred fifty members as of today.

Suspension and Expulsion

Any member whose conduct is

detrimental to the best interest of the
Club or who has willfully violated its
by-laws
and
other
rules
and
regulations may be suspended by the
board of directors or expelled from the
Club by two-thirds vote of the voting
members
present
constituting
a
quorum during a regular or special
meeting of the Club called for the
purpose.

DUTIES AND RESPONSIBILITIES OF

THE OFFICERS
Club Officers
The officers of the Club shall be a
president, a vice president, a corporate
secretary, and a treasurer, all or whom
shall be directors, and such other officers
as the board may appoint. Such officers
shall be elected by a majority vote of the
entire board of directors at a meeting held
as soon as possible after the annual
membership meeting and election.

 Duties of the President

The president shall be the chief executive
officer of the Club, preside at all meetings of
the Club and its board of directors, and
exercise supervision over the activities and
welfare of the Club. He shall be an ex-officio
member of all standing and special
committee.
Duties of the Vice President
The vice president shall, in the absence or
during the
incapacity of the president as
determined by the board of directors,
perform all the duties and assume all the
responsibilities of the president. He/she

 Duties of the Corporate Secretary

The corporate secretary, who must be a citizen and
resident of the Philippines shall keep a record of
the activities of the Club, notify the members of
their election to office, keep a roster of members,
issue notice of all meetings, keep minutes of club
and board of directors meetings, and perform such
other duties as may be assigned to him/her by the
president or the board of directors.
Duties of the treasurer
The treasurer, who must be bonded, shall receive
all funds paid to the Club and disburse the same
order of the president or the board of directors,
keep and preserve proper vouchers and books of
accounts which shall be open to inspection by the
president, the board of directors and any
authorized auditors. He shall submit to the board

Committees

There shall be the following standing committees:

Executive Committee-shall act, between meetings of the
board of directors, on urgent matters that require board
approval, provided that such acts shall be subjected to
ratification of the board. This committee shall be chaired by
the president with the other officers of the Club as members.
Committee onMembership shall process all proposals for
membership in accordance with the procedure established by
the board of directors and submit its recommendation to the
board.
Committee onFinance shall prepare the budget of
estimated income and expenses for submission to the board
of Directors within the period specified by the board and shall
submit such other recommendations on Club finance as may
be required by the board.
Committee onMeetings shall have full charge of all
arrangements in connection with meetings, and cooperate
with the board of directors and other committees in

 Committee on PublicRelations shall keep the

membership and the general public informed on nature of
activities and accomplishments of the Club utilizing such
media as will lead to this end.
Committee on Fellowship andAttendance shall
promote closer and more intimate relationship among
members by initiating and conducting activities designed
to achieve this objective and shall be responsible for full
attendance at all meetings.
Committee on BusinessStandards shall study ways
and means to promote the adoption and application of the
highest standards of ethical conduct in the insurance
profession, recommend undertaking that will advance
public understanding of the purposes of the insurance, and
formulates a program beneficial to the community and
insuring public.
All members of standing and special committees shall be
appointed by the president with the approval of the board