The Department of Finance (DOF) has directed government financial institutions and state-owned corporations to provide immediate assistance to victims of the recent 6.9-magnitude earthquake in Cebu and Typhoon Bualoi (locally known as Severe Tropical Storm Opong).
Finance Secretary Ralph G. Recto underscored the urgency of deploying ground support and speeding up service delivery in the aftermath of natural disasters. “We need to mobilise ground support and faster roll-out of services to the public,” Recto said in a press release on 2 October.
As part of these efforts, the Insurance Commission (IC) issued Circular Letter No. 2025-19, instructing all insurance companies and related entities to prioritise policyholders’ needs. The directive requires insurers to provide immediate payments for claims, extend deadlines for filing notices and supporting documents, improve customer service, and fast-track claims processing for property damage, injuries, and loss of life.
Policyholders in Cebu requiring calamity-related insurance assistance may reach the Commission’s Claims Action Center at the Cebu District Office, located at Lexmark Plaza 3, Cebu Business Park. Assistance is also available through the IC’s head office in Manila via dedicated telephone hotlines and email.
The measures aim to ensure swift financial relief for affected communities as the region continues recovery efforts following the disasters.
Cebu province has been placed under a state of calamity following the earthquake, which struck offshore near Bogo City on 30 September, damaging buildings and infrastructure. The Department of Public Works and Highways estimates losses in northern Cebu at PHP2bn (US$34.43m), while the USGS projects overall economic costs between US$10m and US$1bn. As of this writing, the death toll from the disaster has gone up to 72.
Just a few days earlier, Bualoi made landfall over Malanas, Masbate, at around 4 a.m. on 26 September, before crossing into nearby provinces. In Masbate province, initial assessments put infrastructure damage at PHP31.4m with thousands of homes destroyed or partially damaged. In Western Visayas, the storm resulted in approximately PHP43.7m in infrastructure losses and PHP1.7m in agricultural damage.
