GSIS budgets ₱69 million for Mindanao earthquake damage claims
The Government Service Insurance System (GSIS) has allocated ₱69 million to cover damages from a recent 7.8 magnitude earthquake in Mindanao. The agency is also urging government entities to update their asset valuations to ensure adequate insurance coverage against future climate and disaster risks.
Why it matters
Proper insurance valuation for public infrastructure is essential for government fiscal stability and the rapid restoration of services following natural disasters.
GSIS budgets ₱69 million for Mindanao earthquake damage claims
The report is a factual summary of government financial allocations and administrative directives.
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