Duplicated and Overlapping Insurance Coverages in Bataan DEOs
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: DeficiencyTwo Bataan district offices were double-insuring some assets, wasting money on redundant coverage, and one office was still paying insurance on a building that had already been demolished.
Why It Matters
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Original Audit Finding Excerpt
"Bataan 1st DEO and 2 nd DEO have PP Es with duplicated and overlapping insurance coverages, respectively; and (d) Lastly, Bataan 1 st DEO had a demolished PPE with an existing insurance policy."