The Government Service Insurance System (GSIS) paid Php343 million to the Philippine National Police (PNP) for the insurance claim of a PNP chopper that met an accident in Laguna in 2020.

GSIS President and General Manager Rolando Ledesma Macasaet turned over the check to PNP Chief Gen. Debold Sinas in a virtual claims settlement ceremony on January 19.

“GSIS immediately settled the claim after both parties acknowledged the private adjuster’s report and upon PNP’s acceptance of our settlement offer for the claim. The amount is the largest insurance payout that we approved in 2020,” GSIS President and General Manager Rolando Ledesma Macasaet said during the event.

The chopper, a 2017 Bell 429 Helicopter, carried eight people during the accident, including then-PNP Chief Archie Gamboa. PNP’s insurance premium payment to GSIS for the aircraft was compensated a hundredfold for the accident including the medical expenses of the passengers. To date, the police agency has nine other aircrafts insured with the pension fund.

“On behalf of PNP, we would like to sincerely thank GSIS for the assistance in facilitating our insurance claim. This insurance settlement provided us the financial flexibility to procure a replacement unit to keep us on track with our requirements for air mobility. We would like to underscore the importance of insuring government assets and property with GSIS. Because of this, government agencies like PNP are accorded protection and security for their properties.” Gen. Sinas said.

Republic Act 656 or the Property Insurance Law mandates government offices to insure their properties with the GSIS.

“Unfortunate events like this accident teach us the value of insurance. We hope that other government agencies follow suit and insure their properties with GSIS. Preparedness can make a world of difference,” Macasaet said.