Preamble
WHEREAS, Insurance is vital to the socio-economic life of a country; companies do not find facilities to educate and train their personnel in insurance and in insurance management; WHEREAS, the Philippines has earned in East Asia a reputation for leadership in various fields, among which are insurance, insurance education and management; WHEREAS, consonant with this leadership in insurance, insurance education and management, it behooves the Philippines to set up and to offer to its Asian neighbors the facilities they need and lack for insurance education, training and management; WHEREAS, such facilities as would enable the Philippines to discharge this assumed responsibility with effectiveness and prestige would require both capable people and financing in a significant amount; WHEREAS, there are capable individuals and entities in the Philippine Insurance Industry interested to set up a non-stock, non-profit institution that would carry out the purposes and aims as hereinabove stated, with the end in view of establishing in this country a center of learning for insurance in Asia particularly for East Asia; WHEREAS, if given proper incentives the financing needed might be raised from persons and entities, both within and outside the Philippine Insurance Industry, who will contribute to the Institution by way of donation, bequests, endowment, or other forms; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree: