NIIP will be responsible for repairing and restoring public schools damaged by the typhoon

Typhoon damage. Members of SCAN International at Christ Church ferry residents and their pets to higher ground as floodwaters flood along Araneta Avenue in Quezon City on Wednesday (July 24, 2024). The State Compensation Insurance Program will cover the repair and reconstruction of public schools damaged by Typhoon Karina, the Department of Finance said Thursday (July 25). (PNA photo by Ben Briones)

MANILA, Philippines — The Department of Finance (BTr) said it will file claims under the National Indemnity Insurance Program (NIIP) for earthquake-related losses in 45 public schools in eight regions. Typhoon Kalina.

The NIIP will come into effect on January 1, 2024, providing comprehensive protection for government assets against fires, lightning strikes, typhoons, floods, earthquakes and volcanic eruptions, BTr said in a statement on Thursday.

The program is part of the country’s disaster risk financing strategy, which aims to protect the government’s fiscal health, provide immediate liquidity after disasters, and reduce the impact of disasters on the most vulnerable.

During the pilot period, BTr insured 132,862 school buildings nationwide with an insurance value of P843.11 billion.

Citing data from the Department of Education, BTr said losses in public schools have reached P308.5 million.

The BTr, DepEd, and the Government Service Insurance System (GSIS) are actively coordinating the submission of insurance claims under the NIIP.

“The implementation of this program underscores the commitment of the bureau and the Department of Finance to ensure the nation’s fiscal resilience to disasters. We are actively coordinating with the Department of Education and GSIS to ensure timely assessment and disbursement of this program,” said National Finance Secretary Sharon Almanza.

Once payment is confirmed, the Ministry of Education will use the funds for the repair and reconstruction of damaged schools.

“I commend the Department of the Treasury for taking the proactive step in implementing the National Compensation Insurance Program. Protecting our national assets is essential to ensuring the economic security of our people. Damaged school buildings pose a significant threat to that security because they are where we nurture the potential of our nation’s greatest asset – our students,” said Secretary of the Treasury Ralph Recto.

“Poor school facilities negatively impact teachers and students, leading to reduced human capital development, lower economic productivity and persistent poverty. We must therefore prioritize investments in resilient school buildings to ensure a better future for our children and our country,” said Recto.

Support for victims of Typhoon Karina

The Inquirer is expanding its relief and fundraising efforts to help families affected by Typhoon Karina. Donations may be made to the Inquirer Foundation Corp., BDO Current Account No. 007960018860. For questions, please email (email protected).