Daily TribuneOver 132,000 public school buildings were protected by the National Indemnity Insurance Program before the typhoon struck. ‘This insurance coverage will provide critical funds to rebuild classrooms and minimize learning disruptions.’
The Government Service Insurance System announced that its insurance program will help expedite the repair of public schools damaged by Typhoon “Carina.”
More than 132,000 public school buildings were protected by the National Indemnity Insurance Program (NIIP) before the typhoon struck.
“This insurance coverage will provide critical funds to rebuild classrooms and minimize learning disruptions,” GSIS president and general manager Wick Veloso said. “Without this program, the government would face significant challenges in allocating resources for repairs.”
Government assets
including schools
Currently, the NIIP covers government-owned assets including schools. In the next few years, coverage will extend to hospitals and other infrastructures such as roads and bridges. The program aims to accelerate recovery efforts by providing immediate financial assistance after disasters.
One-year insurance policy
The Bureau of the Treasury has purchased a one-year GSIS insurance policy valued at P843 billion for over 132,000 Department of Education school buildings nationwide. The policy protects schools from losses caused by fire, lightning, typhoons, earthquakes, volcanic eruptions, floods and storm surges.
The GSIS is working closely with the Bureau of the Treasury and the Department of Education to assess the damage caused by typhoon “Carina.” Claims processing will begin once damage assessments are complete.
“By safeguarding public schools, we’re helping ensure that students can continue their education uninterrupted,” Veloso said.
