March 1, 2024

Bicol Express News

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Only 3 Sorsogon LGU’s insured with GSIS

The newly restored and renovated Sorsogon Provincial Capitol Building. SPIO photo

The record of GSIS revealed that Sorsogon Province, Sorsogon City and the Municipality of Gubat are by far the only local government units in the province with insurance coverage with the system. The coverage secured the effective operations of its insurable interest particularly its assets and critical facilities.

This present management team of the state pension fund urged government agencies to have insurance coverage for their interest. The call reiterates the mandate of GSIS under Republic Act 656 to cover and protect government agencies.

Sorsogon lies in a typhoon belt that hampers the delivery of basic services during calamities, critical infrastructures of local government, records of importance and other assets are but few to be preserved. Having insurance coverage with the state pension fund is the best option.

The campaign for insurance coverage accords local government a buffer of protection and also helps the fund to have an extendible actuarial life as PGM Wick Veloso urged other government agencies to tap the insurance coverage offered by the state pension fund.

In another development Matnog National High School and the local government unit of Sta. Magdalena was lauded by GSIS for their excellent collection of premiums contributions and loan payments. They are among the top five performing agencies cited for their efficiency.