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NON-LIFE insurer Fortune General Insurance Corporation paid P7 million representing its full payment for damages that Bohol Electric Cooperative 1 (BOHECO-1) incurred due to the October 2013 earthquake.

On October 15, 2013, a strong earthquake of magnitude 7.2 occurred in the Island of Bohol. It severely affected the Island of Bohol where numerous buildings and structures were damaged. Among those affected were BOHECO-1's power distribution facilities, power stations, substations and offices situated in various areas in Bohol Province.

BOHECO-1 filed an earthquake damage claim under its fire policy with catastrophic perils extension arranged by the Development Bank of the Philippines Insurance Brokerage (DIBI) and issued by Fortune General Insurance Corporation. The claim payment was received by DIBI in behalf of their client and will be used to finance additional rehabilitation works of BOHECO-1.

Photo shows Mr. Antonio Owen S. Maramag, DBP Chief Marketing Officer -Marketing Group Head, Branch Banking Sector receiving the check with Mr. Alvin Casanova and Ms. Mary Jo Tolentino of DBP Insurance Brokers , Inc (DIBI). Presenting the check are Ms. Michelle Tweet Villaruel, Makati Branch Manager and Ms. Nina B. Buenviaje, Manager - Branch Coordination.

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