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Manila Bulletin devider Business devider GSIS to insure public schools nationwide in 2024

GSIS to insure public schools nationwide in 2024

Published Dec 16, 2023 08:34 pm

At A Glance

  • The Government Service Insurance System (GSIS) is providing fire insurance for over 132,000 public school buildings nationwide, totaling P843.11 billion in coverage effective from January 1, 2024.<br>he Bureau of the Treasury has played a key role in coordinating this insurance coverage, aligning with the National Indemnity Insurance Program (NIIP) to secure critical government assets.<br>Wick Veloso, GSIS president and general manager emphasized the importance of protecting public school buildings and ensuring financial resilience in support of Department of Education's (DepEd) MATATAG agenda.<br>GSIS has also extended 24/7 personal accident insurance coverage to all DepEd personnel, demonstrating their commitment to the well-being of DepEd members.

The Government Service Insurance System (GSIS) said it will offer fire insurance coverage for public school buildings under the Department of Education (DepEd) nationwide.

Wick Veloso, GSIS president and general manager, said the pension fund will extend coverage to over 132,000 public school buildings in an effort to enhance the resilience of the country's educational infrastructure.

The fire insurance coverage for the DepEd school buildings amounts to P843.11 billion, providing protection against fire, lightning, and natural catastrophes for a one-year period effective from Jan. 1, 2024.

The Bureau of the Treasury helped put together the insurance coverage, marking a pivotal step in the nation's focus on educational infrastructure security under the National Indemnity Insurance Program (NIIP).

The NIIP, an initiative of the Treasury, aims to provide adequate and comprehensive insurance protection to critical government assets such as schools, hospitals, roads, and bridges.

“With the rising frequency of natural calamities, protecting public school buildings becomes a priority of the government. Our partnership with DepEd is a step towards ensuring financial resilience in support of its MATATAG agenda,” Veloso said in statement.

In addition to insuring public school buildings, the GSIS has provided a 24/7 personal accident insurance coverage for all DepEd personnel, covering death and medical expenses.

“We are committed to look after the well-being of our DepEd members by providing them with strong insurance protection," Veloso said.

Related Tags

Government Service Insurance System Wick Veloso Department of education (DepEd) GSIS President and General manager
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