The Private Sector Advisory Council (PSAC) Infrastructure Sector has strongly pushed for strict enforcement and monitoring of insurance compliance among maritime carriers to ensure safety of cargo owners and passengers.
The PSAC Infra Sector, through Sabin Aboitiz, Lead Convenor of PSAC, emphasized this during the March 20, 2025 meeting with President Marcos in Malacanang.
Among the topics discussed by the council was the insurance deficiencies in the logistics and supply chain sector.
As the council examined insurance deficiencies in the logistics and supply chain sector, it noted that some maritime carriers under the Maritime Industry Authority (MARINA) and the Philippine Ports Authority (PPA) may not fully comply with mandated insurance requirements, posing potential risks to cargo owners and passengers.
Aside from strict insurance cover, PSAC Infra also called for the implementation of mandatory biannual reporting for maritime carriers, and the launch of an awareness and capacity-building program to support smaller vessel carriers.
These recommendations, presented by the PSAC Infrastructure Sector Group, underscore a collective commitment to modernizing the Philippines through world-class infrastructure. The council remains dedicated to collaborating with the government to drive meaningful and lasting benefits for all Filipinos.
Established by the President to foster stronger collaboration between the public and private sectors, PSAC is comprised of business leaders and experts across six key areas—Agriculture, Infrastructure, Digital Infrastructure, Education & Jobs, Healthcare, and Tourism.
The council’s private sector executives are strategically convened by Sabin M. Aboitiz, President and CEO of the Aboitiz Group, ensuring strong leadership and effective engagement.
The Council continuously provides policy recommendations to the government, regularly reporting to the President to offer insights, track progress, and refine strategies based on real-time developments.
