Nonlife Insurers Ready to Settle Claims Following Mindanao Quake

The nonlife insurance industry has assured policyholders that it is prepared to promptly process and pay valid claims arising from the magnitude 7.8 earthquake that struck Sarangani on Monday. In a statement, the Philippine Insurers and Reinsurers Association, Inc. (PIRA) said it is closely monitoring the situation and will provide further updates as clearer assessments of the damage become available.