Country Bankers pays P5.67 M in claims

MANILA, Philippines - Country Bankers Insurance Group (CBIG) has paid P5.67 million to benefit 956 policyholders affected by Super Typhoon Yolanda as of Feb. 21 this year.

According to Country Bankers assistant vice president for Claims and Microinsurance Eileen Infante-Enobal, CBIG clients benefited from their purchase of CB Kalinga, a microinsurance product that protects the insured in risks associated with losses such as death, illness, or injury of a family member.

Its benefits include financial assistance for irreparably damaged houses and Instant Abuloy for families with lost relatives. 

In a press statement, Country Bankers said that a substantial amount of claims covered fisherfolk, farmers, vendors and members of the marginalized sector in the areas of Leyte, Cebu, Iloilo, Biliran, Sorsogon, Catanduanes and in other affected areas in the Visayas. 

CBIG is composed of Country Bankers Life Insurance Corp. (CBLIC), a life insurance company, and Country Bankers Insurance Corp. (CBIC), a non-life insurance firm. 

Meantime, CBIG said the company is committed not only to make insurance affordable but accessible through solid partnerships with rural banks and microfinance institutions all over the country. 

CBIG, through its microinsurance products, aims to help educate Filipinos on the value of insurance by promoting insurance consciousness to a broader market. 

It promotes measures that would protect the disadvantaged, which carries the heavier burden in times of catastrophe, in times of financial distress. 

CBLIC offers a wide range of products from life insurance for chief executive officers and executives to individuals and families, including credit group life and microinsurance for small entrepreneurs, farmers, and fishermen.

On the other hand, CBIC provides insurance products such as fire, motor vehicle and personal accident, to name a few.