GSIS set to release ₱12.9 million in insurance benefits to 8 government frontliners who succumbed to COVID-19

Date Posted: April 30, 2020 The Government Service Insurance System (GSIS) is set to release ₱12.9 million in life insurance benefits to the families/beneficiaries of the eight government health workers who succumbed to the COVID-19 virus. This was announced today by Rolando Ledesma Macasaet, President and General Manager of the state pension fund. “Our insurance officers are already coordinating with the bereaved families. Once the papers are duly processed, we will release the amounts without delay,” Macasaet said. “And as promised, we will be granting an additional ₱500,000 under our Bayanihan Fund for Frontliners (BFF) on top of their regular...

Frequently Asked Questions (FAQs) Directors’ and Officers’ Liability Insurance (DOLI) Policy

1. What is the DOLI policy? The Directors’ and Officers’ Liability Insurance (DOLI) policy is an insurance cover designed to protect the government-owned and -controlled corporation (GOCC), government financial institution (GFI), agency, or commission – and its directors/trustees and officers – against the cost of litigation and liability in the course of performing the official acts of its governing Board and Management. 2. Why do GOCC directors/trustees and officers need the DOLI? GOCC directors/trustees and officers can be held personally liable for the actions they perform in relation to their duties in the corporation. Thus, they have to be protected...