MANILA - A local insurance firm is offering coverage against terrorist acts in the Philippines, which is grappling with extremist groups allied with Islamic State jihadists.
FWD Philippines “peace plan” offers up to P1 million for victims of terror attacks. The plan is renewable annually and can be purchased for P2,000 for individuals and P3,000 for families.
“We can’t stop acts of terrorism from happening but we can and should be financially prepared in case the unthinkable happens,” said FWD Philippines CEO Peter Grimes.
Last September, 14 people were killed while 67 others were wounded after a homemade bomb exploded at a night market in Davao City.
Authorities have blamed the attack on the Maute Group, gunmen who have pledged allegiance to the Islamic State.