News

Insurance

Staff Reporter

, Philippines

Published:

9 months ago

Photo by Mario Hagen from Pixabay

PH’s COVID-19 claims plummet in H2 2022

Insurance claims related to COVID-19 amounted to P1.53b ($-).

Philippine COVID-related insurance claims paid by insurers and health maintenance organisations (HMO) amounted to P1.53b ($28m) in the July to December period of 2022, revealed the Insurance Commission.

This translated to 137,478 insurance claims in the latter half of 2022 from 359,622 in 2021 or P7.65b ($140m).

The number of claims paid during the second half of 2022 followed the downward trend of COVID-19 cases during that period.

ALSO READ: Philippines’ general insurance sector to grow 11.6% in premiums: GlobalData

According to data from the Department of Health (DOH), there were only 287,229 confirmed COVID-19 cases in the second half of 2022, a significant decrease compared to the 1,112,477 cases recorded in the second half of 2021.

(P1.00 = $0.018)

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