GSIS to pay for crashed PNP chopper, shoulder medical expenses and property damage

State workers’ pension fund Government Service Insurance System (GSIS) said Tuesday it will cover the insurance claim of Philippine National Police (PNP) for the helicopter that crashed last week as well as shoulder the medical expenses and damage to property resulting from the accident.

In a statement, GSIS president and general manager Rolando Macasaet said the state pension fund is already processing the insurance claim of the PNP for its chopper that crashed in San Pedro, Laguna last March 5, 2020 carrying PNP chief Police General Archie Gamboa and seven others. 

Aside from Gamboa, those onboard the two-year-old Bell 429 chopper were:

• PNP spokesperson Police Brigadier General Bernard Banac
• PNP director for Comptrollership Police Major General Jovic Ramos
• Director for Intelligence Police Major General Mariel Magaway
• Police Lieutenant Colonel Ruel Zalatar, pilot
• Police Lieutenant Colonel Macawili, co-pilot
• Police Senior Master Sergeant Estona, crew,
• Police Captain Gayrama, aide-de-camp of Gamboa

The downed Bell 429 Twin-Engine helicopter is covered by an insurance policy issued by GSIS worth $7 million or about P350 million.

The chopper reportedly hit a high tension wire upon lift-off due to poor visibility caused by thick dust.

“Our Insurance Group is fast-tracking the insurance claim of the PNP in response to the directive of the President to cut bureaucratic red tape by streamlining procedures and requirements in the delivery of public services,” Macasaet said.

Hours after the incident, the GSIS said its Insurance Group immediately dispatched its third-party insurance adjuster, Crawford & Company Philippines Inc., to investigate the crash site and estimate the total financial damage resulting from the crash.

“We are just waiting for the investigation findings of our third-party adjuster. Once we get their final report, we will release the money to the PNP immediately,” Macasaet said.

Apart from the helicopter, the PNP’s insurance policy with GSIS also covers the hospitalization expenses of any person/s injured in the accident and any property damage resulting from the crash.

The GSIS policy includes personal accident insurance worth $100,000 or P5 million, passenger medical expenses coverage amounting to $20,000 or P1 million and third party liability insurance. 

“May this unfortunate incident serve both as a lesson and a reminder to all government officials to insure their property assets with GSIS, because you never know when disaster will strike,” Macasaet said.

Republic Act No. 656 or “Property Insurance Act” requires all government agencies to insure their properties, assets and other insurable risks with the GSIS – “including vessels and aircraft, motor vehicles, machineries, buildings and equipment.”

The GSIS Insurance Group currently offers Fire, Engineering, Bonds, Motor, Personal Accident, Miscellaneous, Floater, Marine Cargo, Aviation, and Marine Hull insurance.

The GSIS General Insurance Fund has total assets amounting to P4.5 billion as of 2019. 

Last year, the state pension fund earned nearly P2.2 billion in net income from its insurance business. —KBK, GMA News