GSIS urges LGUs to protect public assets against disasters
Daily TribuneThe Government Service Insurance System (GSIS) has urged local government units (LGUs) to strengthen the protection of public assets to ensure uninterrupted public services during disasters.
Speaking before representatives from 26 local government units in the Cordillera Administrative Region during the 2026 Property Officers' Forum for LGUs on 16 July, GSIS President and General Manager Wick Veloso said safeguarding government assets is a key component of good governance and disaster resilience.
"Good governance means preparing before a crisis, not reacting after a loss," Veloso said as he marked the anniversary of the 1990 Luzon earthquake that devastated Baguio and other parts of Northern Luzon.
Veloso encouraged LGUs to maintain updated property inventories, ensure proper asset valuation and secure adequate insurance coverage so government services can continue even after natural disasters.
He also highlighted the GSIS Seal of Protection, which recognizes local governments and government agencies that demonstrate excellence in asset management through accurate inventories, proper valuation and sufficient insurance coverage.
"The Seal of Protection is more than an insurance milestone. It is a governance milestone. It reflects an LGU's commitment to accountability, resilience and uninterrupted public service," he said.
Veloso reminded participants that Republic Act No. 656 requires government properties and insurable interests to be covered by GSIS insurance, describing it as both a legal obligation and a practical investment in resilience.
He also underscored the role of property and budget officers in ensuring that government assets are properly documented, accurately valued and adequately protected to help speed up recovery after disasters.
The forum forms part of GSIS' continuing efforts to promote sound asset management, risk mitigation and responsible stewardship of public resources in support of the Marcos administration's goal of building resilient local governments and ensuring uninterrupted public service.
