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September 30-October 6, 2007 |
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Bank of P.I. Selects 10 Top
Students
By Carmencita H. Acosta
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Bank of
the Philippine Islands (BPI) recently
awarded cash and other gifts to 10 selected
outstanding students whose parents are its
depositors and working overseas. The search
is a project of the Expat Filipino Customers
Segment of the BPI Overseas Banking
Division.
BPI president Aurelio Montinola said that
the projcct “is one way of fulfilling the
bank’s commitment to our overseas Filipinos
whose remittances are considered a major
power house of the country’s economic
progress.”
Recognizing the excellent academic work of
their children |
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Agang in
Sudan; Jonathan, Philippine Science High
School, son of Vivencio Bantigue in Russia;
Mary Grace, Makati Science High
School, daughter of Jesus Pascua in Saudi
Arabia; Loris Marriel, Ateneo de Manila
University, daughter of Ismael Villar in
Dubai; Inri, University of the Philippines
Visayas, son of Danilo Villaluna in Japan;
Soleil, Adamson University, daughter of
Manuel Ponce in Saudi Arabia; and Kristine
Ann, Ateneo de Manila and brother Neil
Stephen, De la Salle University, children of
Noel Lopez in Indonesia. |
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is one way
of expressing appreciation for the work done
by the overseas Filipino parents.
Those selected were Maria Trina, University of the Philippines,
daughter of Andres Asuncion based in Oman;
Mark Lester, University of Perpetual Help,
son of Rico Cervantes in Dubai; Maria
Rhodora, Far Eastern University, daughter of
Rodrigo |
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BPI Director and Ayala Corporation
president Fernando Zobel de Ayala
(left) poses with awardees Maria
Rhodora Agang and Inri Villaluna |
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Generali Pilipinas Unveils Home
Insurance Tool
By Joan Teotico
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The
Philippines is located in the world’s hazard
belts, thus the country is subjected to
severe natural disasters which are
meteorological phenomena such as typhoons
and floods, geological processes such as
volcanic eruptions and earthquakes and
climatic phenomena such as drought.
Generali Pilipinas (GP) recently introduced
the Home Replacement Value Estimator (HRVE),
a new insurance measurement tool designed to
calculate the cost of rebuilding a home in
case of loss caused by natural disasters
such as typhoons, fires or earthquakes.
The HRVE is a computer-based tool, aiding
homeowners to determine the right amount of
sufficient insurance coverage to completely
rebuild their home in case of unexpected
disasters. Dan Daly, president and chief
executive officer of GP said, “Safety is
everyone’s responsibility, it starts in our
home, our work and our community. Having the
right information to make an informed
decision is the most important thing to have
when buying an insurance product. This is
why Generali Pilipinas espouses the value of
being proactive and not reactive towards
home safety. It is always best to be
prepared rather than be caught unaware when
a disaster happens.” |
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Joe Ferreria, chief marketing officer of GP
said that people would usually insure their
homes only for the mortgage value or for
what they feel is the value of their home
without realizing that upon doing that, the
home equity value is lost. Some people get a
housing loan from a bank. The bank will
typically lend 70 percent while people pay
for the remaining 30 percent. Ferreria
explained that if something happens to the
house and it was only insured for its
mortgage value, people will only get paid up
to the extent of the loan. “What happens to
the amount of money you paid for? You can’t
build a house again. Our advocacy is to make
sure the HRVE will make people aware that
they need to insure their home for the
replacement value, not its depreciated value
or mortgage value. If disaster strikes,
people will have the financial capability to
put it back up,” he emphasized.
The launch of this new service is one of the features of GP’s Be
Safe and Sound Home Safety Campaign, which
is now being launched with the City
Government of Makati and the Philippine
National Red Cross.
HRVE is free. GP is currently working on uploading the HRVE on
their website for download or immediate
access. |
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