INSURANCE AGAINST DISASTERS: LESSONS FROM TYPHOON HAIYAN · Typhoon Haiyan as seen from space 6 ....
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VIDA T. CHIONG Deputy Insurance Commissioner Philippines INSURANCE AGAINST DISASTERS: LESSONS FROM TYPHOON HAIYAN Session 5:
Transcript of INSURANCE AGAINST DISASTERS: LESSONS FROM TYPHOON HAIYAN · Typhoon Haiyan as seen from space 6 ....
VIDA T. CHIONG Deputy Insurance Commissioner
Philippines
INSURANCE AGAINST DISASTERS:
LESSONS FROM TYPHOON HAIYAN
Session 5:
A typhoon at its might 2
Ketsana (Ondoy) floodings 3
Fury of Haiyan 4
Bohol earthquake 5
Typhoon Haiyan as seen from space
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Insurance Policies for Nat Cat Perils
• Fire policy endorsed to cover the following perils or may be bought as stand alone policies: – Earthquake – Typhoon – Flood – Landslides – Other acts of nature (AON)
• All risk policy • Motor car policy with AON • Microinsurance:
– Bahay, Buhay, Kabuhayan (BBK)
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Bahay, Buhay, Kabuhayan (BBK)
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Destruction of typhoon Haiyan
High and strong waves caused by strong winds
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Haiyan aftermath, at least…
More than 6000 deaths and thousands more missing 11
Haiyan aftermath…
4 million homeless 12
Haiyan aftermath…
$2 billion insured losses 13
Haiyan aftermath…
Typhoon surge left this ship in the midst of what used to be a residential area 14
Agarang Proseso, Benepisyo ay Segurado Program
(Expeditious Claim Processing for Immediate Benefit Payments)
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Insurance industry response…
Claims Assistance Center 16
Insurance industry response…
Relief goods 17
Insurance industry response…
Donations/voluntary relief operations 18
Extended Grace Period for Premium Payments
for those residing in the affected areas
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Insurance Industry Concession:
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Credit Support Fund (CreSF) Insurance Program
THANK YOU
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