The Insurance Commission is studying a proposed mandatory calamity insurance coverage for residential unit owners and small and medium enterprises (SMEs) eyed to be in place before end-2015.
Insurance Commission Chief Emmanuel Dooc, said yesterday in a briefing at the sidelines of the two-day Disaster Risk Finance – APEC Roadmap for Resilient Economies that started at the SMX Convention Center in Bacolod City, that the proposed insurance product covers destruction from typhoon, flooding caused by typhoon, earthquake, and fire.
He said the IC and the Bureau of Treasury (BTr) are now reviewing the proposal for presentation "hopefully soon" to DoF Secretary Cesar Purisima.
Alcala to inaugurate P181M
Negros farm to market roads
The Philippine Rural Development Project under the Department of Agriculture will implement the rehabilitation of two farm-to-market road (FMR) projects in Toboso and Cadiz City, Negros Occidental, a DA press release said.
Agriculture Secretary Proceso Alcala will lead the inauguration of the Brgy. Caduhaan-Sitio Aluyan FMR in Cadiz and the Sitio Magtuod-Vergara FMR in Toboso today.
The FMR in Cadiz City at a total project cost of P134, 758, 000.00, will benefit the production areas of 877 hectares planted to sugarcane, rice and corn, the press release said.
showroom to rise soon
A single-storey building that will house the new showroom of Chevrolet-Bacolod will rise in Brgy. Villamonte in the city, this year, Mark Campos, dealer operator of the firm, told the DAILY STAR yesterday.
Campos said the new building will be located on a 3,400 square-meter lot in front of the Hi Residences Condominiums and will also house their food hub mall.
He, however, said they are still determining how much would the cost of the construction of the new building would be and what architectural firm will undertake the project.