• Tacloban, Roxas airports rebuilt largely from insurance proceeds

    5

    THE Civil Aviation Authority of the Philipp ines (CAAP) recently completed the rebuilding of the Daniel Z. Romualdez Airports (DZR) in Tacloban City and the Roxas Airport (RXS) in Roxas City mainly from insurance proceeds from state insurer Government Service Insurance System (GSIS).

    GSIS released a total of P144.17 million in insurance proceeds to compensate for the damage wrought by Typhoon Yolanda (international name Haiyan) to the domestic airports of Tacloban and Roxas in November 2013.

    Under Republic Act No. 656, as amended by Presidential Decree No. 245, GSIS is mandated to insure all properties, assets, and interests of the government against any insurable risk.

    CAAP, the aviation regulator of the country, is responsible for the operation of 82 airports, with 42 of them handling commercial flight operations.

    It can be recalled that CAAP insured 22 of its facilities with GSIS for P9.5 billion under an Industrial All Risk Policy in 2013, less than a month before Typhoon Yolanda struck the country on November 8, 2013.

    CAAP paid the annual premium of P18.97 million to GSIS. Out of this amount, the premium it specifically paid for the Tacloban Airport was only P463,633 for an insurance coverage of P232 million, while the premium paid for Roxas Airport was P272,461 for an insured amount of P136.23 billion.

    This year, CAAP has included sabotage and terrorism reinsurance coverage for 69 airports, their buildings and contents against physical loss or physical damage by an act of sabotage and terrorism, such asthe September 2013 siege on Zamboanga City that affected its airport operations.

    Share.
    loading...
    Loading...

    Please follow our commenting guidelines.

    5 Comments

    1. Malaki pag babago ng Tacloban,Oo marami pang dapat gawin at marami pang magagawa pero naniniwala ako na hindi pinababayaan ng lokal na pamahalaan ang isyu dito!!

    2. Aristotle VillaSanta on

      Agree. Unfair to critique the numerous people who helped Tacloban becuase it wasn’t up to par with a person’s standards. This country rallied to help…and this country is doing the best it can to make a difference to those who were most affected by this tragedy.

    3. It’s easy to criticize I know. But I’m always one to focus on the positive versus the negative. Let’s move forward from there and not forget what HAS been done to rise from this tragedy.

    4. Marcelino dela Cruz on

      Tanong lang? Sino ba dapat ang responsable sa pag tulong sa Amin?Di ba May pondong Nilaan Ang National Goverment para rehabilitasyon? NASAAN NA??? Sila ang responsable dito sa pagkakalam namin!!!!

    5. Robert Fernandez on

      Maipaalala ko lang sa lahat na ang daming tulong na hindi dumating samin noong nasalanta kami ng bagyo. Donasyon at relief goods na kailangang kailangan ng mga tacloban inipit ng administrasyon. Yan ba ang klaseng tao na gusto nyong mamuno satin?