Pasig City Mayor Vico Sotto announced Monday that the local government has completed a multiyear effort to insure all city-owned assets, addressing a significant liability uncovered at the start of his administration.
Speaking during the city’s weekly flag-raising ceremony on 2 February, Sotto told officials and employees that a 2019 review showed a “significant number” of local government properties — including buildings, vehicles, and other movable assets — were entirely uninsured.
The lack of coverage posed major financial and operational risks, particularly in a region prone to natural disasters, Sotto said. Under Philippine law, local government units are required to insure their properties through the Government Service Insurance System (GSIS).
The inventory and insurance push was led by the city’s Office of General Services and the Office of the City Administrator.
The announcement coincided with a visit from GSIS president and general manager Wick Veloso, who attended the ceremony to present Pasig with the 2025 GSIS Seal of Protection Award. The recognition is given to government agencies that maintain up-to-date and comprehensive insurance for their properties.