Philippines government seeks further cat protection to cover own assets

Manila, Philippines

The Philippines government has signed a memorandum of understanding with the Government Service Insurance System (GSIS), which provides insurance cover for government assets in 25 provinces in the catastrophe-exposed eastern seaboard of the country. A statement issued by the GSIS confirms that the facility will provide cover for up to PHP1trn ($19.7bn). The Bureau of the Treasury reportedly said it…

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