Delays in Insurance Policy Filing/Renewal for P497.56 Million PPE
Department of Public Works and Highways · 2024
This summary was generated automatically from the source document and may contain errors. It is not an official interpretation and should not be relied upon as legal guidance. Review the original excerpt and source document to verify before citing or acting on it.
What Happened?
Category: Financial ManagementIssue: Non-complianceSeveral DPWH offices were late in renewing or buying insurance for almost half a billion pesos of equipment and vehicles, with some delays stretching for years, leaving assets unprotected during those periods.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"two ROs and nine DEOs incurred delays ranging from 2 to 2,190 C alendar Days in the filing/renewal of insurance policies for its insurable assets with a total amount of P 497,556,851.07."