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International

Philippines takes out $18 billion catastrophe risk insurance policy

December 06, 2019 Reprints

Aftermath of Typhoon Nina in the Philippines/ SHUTTERSTOCK.COM

The Philippines Bureau of the Treasury has purchased an indemnity insurance policy offering 1 trillion ($18.44 billion) in total coverage for strategic public assets against natural calamities, The Philippine Star reported. The BTr purchased the policy from the Government Service Insurance System after paying a PHP2 billion premium.

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Philippines takes out $18 billion catastrophe risk insurance policy

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