The Philippine Life Insurance Association (PLIA), the umbrella organization of the life insurance industry, launched The Life Insurance Consciousness Week (LICW) celebration for the year 2010 with a Corporate Governance Form held at the Insurance Institute for Asia and the Pacific (IIAP) last August 18, 2010.

The month of August is internationally observed as Corporate Governance Month and the Philippine life insurance industry, though the PLIA has participated in its observation with other countries since last year. The practice of good corporate governance, a thrust that the Philippine government has given a lot of time and importance in developing the necessary guidelines for its implementation, has also evolved a monitoring system for its compliance through the accomplishments by companies of their respective scorecards.

The PLIA Corporate Governance Forum had as speakers Ms. Joan Lisette Catindig of Marsh Brokers talking on “Estimating for Impact of Corporate Governance on Firm Value in Philippine Firms” and Atty. Marlon R. Marquez, Executive Director of the Institute of Corporate Directors who presented the Evaluation of the 2008 Scorecards.