/ 18 December 2023

AROUND 132,000 public school buildings will be covered by fire insurance under the pension fund of the Government Service Insurance System.

GSIS President Wick Veloso said it will offer fire insurance coverage for public school buildings in an effort to enhance the resilience of the country’s educational infrastructure.

The fire insurance coverage for the DepEd school buildings amounts to P843.11 billion, providing protection against fire, lightning, and natural catastrophes for a one-year period effective from January 1, 2024.

The Bureau of the Treasury 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.

The NIIP, an initiative of the Treasury, 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,” Veloso said in statement.

In addition to insuring public 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.