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COA tips CAAP to insure Borongan, Guiuan airport assets

(Este News File Photo)

BORONGAN CITY, July 10, 2017–The Commission on Audit (COA) has urged the Civil Aviation Authority (CAAP) of the Philippines to insure all insurable assets and properties in Borongan and Guiuan airports.

According to a report by COA, Borongan and Guiuan airports, along with 12 other airports in the country are not insured with the General Insurance Fund of the Government Service Insurance System, a violation of Republic Act 656 known as the Property Insurance Law.

The report further stated that the failure of the management to insure said properties may result to “non-recovery of the value of the property in case of loss/damage due to fortuitous events.” (Medora NB Quirante / Este News)

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