State-run insurance to cover PH central post office after massive fire

The post office will be covered for P604m.

Government Service Insurance System (GSIS), the Philippines’ state pension fund, said it will insure the Philippine Postal Office (Philpost) building after it caught fire on 21 May.

The post office’s central building, located in Manila City, will be covered for P604m ($10,760). Damage that will be funded is the building’s infrastructure and its contents.

“GSIS is the first government agency to reach out to the beleaguered public corporation,” said GSIS in an announcement.

Further, GSIS has offered its warehouse in Pasig City to temporarily house Philipost.

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“To facilitate the insurance claims, we immediately dispatched our adjusters to the fire scene today even though no fire-out has been declared yet. We also deployed drones to completely evaluate the affected structures. We are very much aware of the historical significance of the building and we would like to assist in its rebuilding efforts in every possible way,” said GSIS President and General Manager Wick Veloso.

The state-run insurer also assured that it is open to extend a loan to the post office for reconstruction.

As of writing, the status of the central post office’s building is still not accessible.

(P1.00 = $0.018)