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Manila Bulletin devider Philippines devider National devider GSIS vows to expedite insurance payouts for Odette-hit gov't properties

GSIS vows to expedite insurance payouts for Odette-hit gov't properties

Published Feb 14, 2022 03:18 pm

The Government Service Insurance System (GSIS) on Monday, Feb. 14, vowed to expedite the processing of insurance claims of government agencies whose properties have been “extensively damaged” by Super Typhoon Odette.

“I have instructed our Insurance Group to help clear the debris in insured properties of government agencies that sustained Odette-related damages, fast-track processing of insurance claims, and closely coordinate with other government institutions to assess the losses for the subsequent filing of claims,” said GSIS President and General Manager Rolando Ledesma Macasaet.

GSIS

Right after the onslaught of Super Typhoon Odette, the GSIS dispatched third-party adjusters and coordinated with government agencies such as the Civil Aviation Authority of the Philippines (CAAP) to assess the damages in their airports and properties.

Per GSIS, a total of 16 airports in Antique, Kalibo, Roxas, Bacolod, Caticlan, Iloilo, Mactan, Bantayan, Dumaguete, Tagbilaran, Ubay, Siquijor, Panglao, Tacloban, Siargao, and Surigao were reportedly damaged, as of Dec. 21,

It noted that the majority of the aforementioned airports are covered under the comprehensive policy issued by GSIS worth P17.69 billion.

Macasaet has acknowledged the pressing need for GSIS’s swift response to the post-disaster recovery of its fellow state agencies, saying “necessary assistance to our insured government offices and airports are underway so that their properties can be restored at the soonest possible.”

“This calamity has once again put a spotlight on the importance of insurance as a backup plan. This will help government agencies recover from their losses,” the GSIS president and general manager added.

The GSIS, under Republic Act No. 656 (Property Insurance Law), is mandated to "insure government properties, assets, and interests from calamities."

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