The Government Service Insurance System (GSIS) has delivered an initial insurance payout of P100 million to the Philippine Postal Corp. (PhilPost) in response to the May 22 fire that devastated the historic Manila Central Post Office (MCPO) building.
GSIS President Jose Arnulfo “Wick” Veloso handed over the payment to PhilPost’s acting CEO, Luis D. Carlos, emphasizing the importance of government agencies insuring their assets for quicker recovery from unforeseen disasters.
The GSIS, which insured the MCPO building and its contents for a total of P604 million, is set to finalize the payment once the adjuster’s report is reviewed and approved.
The MCPO building is recognized as an Important Cultural Property and will benefit from this support to facilitate its rehabilitation and reconstruction.
