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International

Legislators propose requiring marine and fire polices to cover terrorism

May 31, 2018 Reprints

Leaders of the Philippines' lower house of parliament, have proposed amending insurance laws to require marine and fire insurance policies to cover losses from terrorism and acts of rebellion, Asia Insurance Review reported citing Manila Bulletin. Pantaleon Alvarez, the parliament's speaker, said that the siege of Marawi City on May 23, 2017, caused 11.6 billion Philippine pesos ($221 million) worth of damage to infrastructure and agriculture. Mr. Alvarez said that the Armed Forces of the Philippines recorded 56 cases of arson committed by the New People’s Army in Mindanao in 2017, destroying property worth at least PHP 224.6 million.

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Legislators propose requiring marine and fire polices to cover terrorism

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