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MANILA, Philippines – The nonlife insurance industry assured policyholders that insurers are ready to promptly process and pay valid claims from Monday’s magnitude 7.8 Sarangani earthquake.
In a statement, the Philippine Insurers and Reinsurers Association, Inc. (PIRA) said it is closely monitoring developments and will provide further updates as clearer assessments of the damage become available.
READ: Magnitude 7.8 quake kills 19, topples buildings in Mindanao
“It is too early to assess insured losses. Claims are only beginning to trickle in, and a complete picture of the extent of damages will take several weeks to emerge,” Pira said.
