NONLIFE insurer Fortune General Insurance Corp. paid P7 million representing its full payment for damages that Bohol Electric Cooperative 1 (Boheco-1) incurred from the 7.2-magnitude earthquake that struck the island of Bohol on October 15, 2013.
Among those affected were Boheco-1’s power distribution facilities, power stations, substations and offices situated in various areas in Bohol province.
Boheco-1 filed an earthquake damage claim under its fire policy with catastrophic perils extension arranged by the Development Bank of the Philippines Insurance Brokerage Inc. (Dibi) and issued by Fortune General.
The claim payment was received by Dibi in behalf of their client and will be used to finance additional rehabilitation works of Boheco-1.