Wednesday 17 January
Powered by Ajaxy
Sep 10, 2017 @ 15:30

GSIS provides insurance for 25 typhoon-prone provinces

 

The state insurer will be ready to give immediate payouts to local governments most prone to be hit by typhoons.

The Government Service Insurance System (GSIS) has announced a P10-billion parametric insurance fund for government buildings, courtesy of the World Bank and the U.K. Department for International Development.

This will cover the losses incurred by national government offices during strong typhoons and earthquakes, as well as immediate disaster response funds for 25 duly-identified provinces. These are Albay, Aurora, Batanes, Cagayan, Camarines Norte, Camarines Sur, Catanduanes, Cebu, Davao del Sur, Davao Oriental, Dinagat Islands, Eastern Samar, Ilocos Norte, Ilocos Sur, Isabela, Laguna, Leyte, Northern Samar, Pampanga, Quezon, Rizal, Sorsogon, Surigao del Norte, Surigao del Sur and Zambales.

The areas were specifically selected because of their high exposure to adverse weather conditions, GSIS said.

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Related Stories
Sen. Richard Gordon on Friday filed a bill seeking to raise penalties on erring mining
Paging firm turned business solutions provider Easycall Philippines Inc. will continue to focus efforts on
San Miguel Corp. is looking to raise as much $1.3 billion from the capital market
President Rodrigo Duterte is planning to impose a ban on black sand mining because of


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - bilyonaryo.com.ph.