The Government Service Insurance System (GSIS) has announced providing fire insurance for more than 132,000 public school buildings under the Department of Education (DepEd) nationwide.
The total fire insurance for these public school buildings aggregate P843.11 billion, and will cover fire, lightning, and natural catastrophes for a one-year period effective 1 January 2024.
The Bureau of the Treasury (BTr) 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 BTr, 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,” GSIS president and general manager Wick Veloso said.
In addition to insuring DepEd’s 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.
