Manila: The government, through the Department of Public Works and Highways (DPWH), has started the process of claiming performance bond on questionable flood control projects. Secretary Vince Dizon stated that they have requested insurance payments from three firms for projects in the 1st District of Bulacan, which were found to be anomalous.
According to Philippines News Agency, Secretary Dizon mentioned during a press conference, following the signing of a memorandum of agreement with the Insurance Commission (IC) led by Commissioner Reynaldo Regalado, that letters have been sent to Liberty Insurance, Travelers Insurance, and Sterling Insurance. The DPWH is claiming 30 percent for all projects under the first case filed before the Office of the Ombudsman in Bulacan’s 1st district.
When asked about the companies’ responses, Dizon noted that there had been no reply yet. He expressed hope for a response following Commissioner Regalado’s statement. Dizon assured that more insurance claims would be pursued, emphasizing that each case referred to the Independent Commission for Infrastructure would lead to a performance bond application.
The memorandum signed with the Insurance Commission aims to enhance monitoring, validation, and enforcement of surety bonds for infrastructure projects, addressing the issues within the flood control sector. Dizon reiterated President Ferdinand R. Marcos Jr.’s directive to recover public funds swiftly and efficiently.