News and Events

P1.5M CLIMBS CSR Fund for Bohol 7.2 earthquake and “Yolanda” Super Typhoon Victims

Cagayan de Oro City – CLIMBS Life and General Insurance Cooperative released P1.5M from its Corporate Social Responsibility Fund (CSR) for affected affiliate cooperatives in the Visayas badly affected by 7.2 earthquake in Bohol and super typhoon “Yolanda”, which devastated the Island of Samar, Leyte, Biliran and Panay.

Initial assessment of the damaged areas, cooperative affiliate of CLIMBS in Tacloban, Ormoc and surrounding municipalities numbering to 122 were badly affected with a approximate total of 650,000 member families covered by CLIMBS Life and Property insurance for cooperative members. Affected cooperatives main offices and branches reported their initial damage whereas others cooperatives affiliated to CLIMBS in the area has not been contacted yet due to communication difficulty.

On the other hand, CLIMBS immediately sent a team to evaluate and outright claims processing for its covered members of 700,000 enforced policy affected by typhoon “Yolanda”. Policy coverage includes Life insurance for creditor member of the cooperatives, mortuary benefits, personal accident insurance, residential and commercial calamity insurance, motor vehicle act of nature insurance with an initial assessment of more than P50M. Claims will be processed with the cooperative office for outright payout of benefit cash call to initially assist members on their needs.

CLIMBS as a responsible insurer of the cooperatives is now demonstrating its promise to deliver the insurance benefits in times when its most needed by its insured members and the community.

Posted: December 2013
Written by: Jesus Antonio R. Dosdos
Division Manager, NonLife Division

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