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Insurance Commissioner to push for creation of catastrophe insurance pool

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Emmanuel Dooc, Insurance Commissioner of the Philippines, has said that he would push for the signing of a draft executive order for the creation of mandatory catastrophe insurance pool, reported The Standard.

The draft executive order, when signed into law, will require all households and small and medium enterprises to get insurance protection from damage caused by natural disasters.

"The immediate need is for an issuance of an EO to accelerate the process, but in the long term we will need a legislation," Mr. Dooc said.

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