PH parametric insurance gets maximum cover – BTr 18 SHARES Share it! Share TweetBy Chino S. LeycoThe Philippines has successfully placed on the international market its parametric insurance policy with a maximum cover of P20.49 billion that can provide quick liquidity to national and local governments, the Bureau of the Treasury (BTr) said yesterday. Its Disaster Risk Financing and Insurance Program provided preparation work with financial support from the UK-DFID. In turn, the Treasury is the designated policyholder, representing the 25 provinces and the national government. In addition to the Parametric Insurance Program, the Department of Finance (DOF) is exploring a plan to sponsor a Catastrophe Bond (Cat Bond) to help bridge the financing gap the Government faces in the light of natural disasters.

Source: Manila Bulletin December 19, 2018 13:52 UTC