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Philippines: Insurers pay US$81m in COVID-19 related claims in 2020

Insurance companies paid out PHP3.89bn ($81m) in claims related to COVID-19 last year, with nearly a third of the amount or PHP1.22bn being death benefits.

Health maintenance organisations (HMO), which are regulated by the Insurance Commission, shouldered almost half or PHP1.91bn of the total claims paid during the first full year of the pandemic, reported the Philippine Inquirer.


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