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Phl indemnity program covers P800-B state assets
The Philippine Star
|January 02, 2024
An initial P800 billion in state assets will be insured as the government commences its national indemnity program at the onset of the new year.
The Bureau of the Treasury officially implemented the National Indemnity Insurance Program (NIIP) at the start of 2024 in a bid to provide adequate and comprehensive insurance coverage for important government assets.
The program also aims to ensure the country’s financial resilience against disasters.
This year ’s pilot NIIP covers some 132,862 Department of Education school buildings nationwide with an approximate value of over P800 billion.
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