By Genalyn Kabiling
An inter-agency committee has been created to craft rules and regulations to ensure the comprehensive insurance of key government facilities against natural calamities.
In Administrative Order No. 4, Malacañang has assigned the Department of Finance to lead the new committee after the Commission on Audit reported there are some agencies whose properties are not insured or are substantially underinsured.
The new panel will be co-chaired by the Office of the Executive Secretary.
Members of the new panel are Department of Budget and Management, Insurance Commission, and the Government Service Insurance System.
“There is a need to prescribe the necessary policies, rules, and regulations to ensure that the key properties, assets, and other interests of the government, especially high-risk items, are provided with comprehensive and adequate insurance coverage,” the order read.
AO 4, signed by Executive Secretary Salvador Medialdea, noted that the government has allocated P1 billion for the insurance coverage of government facilities against natural calamities. The resources were allocated under National Disaster Risk Reduction and Management Fund of the 2017 national budget.