Post-typhoon expansion of micro-insurance coverage for the poor sought in the Phillipines

Tuesday, December 3, 2013

In an interview last week during a seminar on micro-insurance held at the Quest Hotel, Insurance Commission deputy commissioner Ferdinand George Florendo said 50,000 typhoon victims were covered by micro-insurance policies.

He said they are already receiving at least P5,000 in insurance claims. “Based on information from one of the insurance providers, claims will range from P5,000 to P20,000. This will really help them get back up,” Florendo said.

Florendo said micro-insurance coverage had yet to reach 100 percent in the country ever since the government instituted it in 2006.

Source: Inquirer News (link opens in a new window)

financial inclusion, poverty alleviation