The Northern Marianas Insurance Association, a non-profit organization, hosted the first “Insurance Awareness Day” in the CNMI on March 21, 2025, at Saipan World Resort. The event highlighted the importance of insurance in current events, emphasizing how it has often been undervalued in recent catastrophes. The CNMI, for instance, was found to have incurred 60% to 70% uninsured damages worth billions of dollars during Super Typhoons Soudelor and Yutu.
Additionally, the rising number of uninsured motorists on the roads endangers innocent third parties, while some job sites operate under unsafe conditions without insurance coverage for workers. Property investments, homeowners, and small businesses are also at risk without insurance, NMIA President Gol Corpuz said in his opening remarks. Among those who attended the summit were government officials and private sector representatives. The participating organizations included the Department of Commerce, the Department of Public Safety, the Workers Compensation Commission, Occupational Safety and Health Administration, the Northern Marianas Housing Corp. and Bank of Guam. Photo shows, from left NMHC Deputy Corporate Director Jesse Palacios, Department of Commerce-Licensing Officer Charlette Borja, WCC Director Frank Cabrera, NMIA President Gol Corpuz, Secretary of Commerce/Insurance Commissioner Remedio Mafnas, former Senate President Edith Deleon Guerrero, DPS-Bureau of Motor Vehicles Director Eric David and Bank of Guam VP Kal Rengiil.
Contributed photo
