Property insurer and pension fund Government Service Insurance System said Wednesday it paid an initial P100 million to Philippine Postal Corp. for the fire insurance of the Manila Central Post Office, which suffered extensive damage in May this year.
GSIS said in a statement the preliminary payment was intended to meet the immediate rehabilitation needs of the MCPO building. GSIS will deliver full payment to PhilPost after evaluating the adjuster’s report and approving the final payment offer.
GSIS president and general manager Wick Veloso presented the check to PhilPost acting Postmaster General and CEO Luis Carlos at the GSIS head office in Pasay City on Wednesday.
“GSIS is committed to helping PhilPost rebuild the nation’s iconic post office at the Liwasang Bonifacio in Manila. Sana po ay magsilbing paalala itong sunog sa PhilPost para sa ibang ahensiya ng gobyerno. Have your buildings and assets insured by the GSIS para mas mabilis ang pagbangon mula sa kalamidad at mga hindi inaasahang sakuna,” Veloso said.
The MCPO building, along with its furniture and fixtures, was insured for P604 million with the GSIS. Upon receiving the news of the fire, the GSIS sent its adjuster to the site within 24 hours to initiate the insurance claim process and carry out an inspection. Drones were also used to comprehensively survey and assess the damaged structures.
The full settlement of the claim will be made upon completion of the loss evaluation.
GSIS also donated various office equipment including tables, chairs, laptop and desktop computers to help facilitate the continuity of its essential services.
The Manila Central Post Office was declared an Important Cultural Property by the National Museum of the Philippines in 2018. Constructed in 1926, the building stood out with its neoclassical architecture designed by Juan Arellano and Tomas Mapua.
