Asian Development Bank mulls catastrophe insurance for the Philippines

Posted on News 1

The Asian Development bank is working on a extending the Philippines climate-change-related disaster insurance to help it deal with the increasing number of catastrophes on the island nation, The Business Mirror reports. Richard Bolt, the bank’s country representative for the Philippines, said that the insurance would “reduce the burden on the national government in a post-disaster situation, and that the program would most likely work better for larger cities.

Read more.