MMDA Faces COA Heat Over P9.22 Billion in Uninsured Assets

The Commission on Audit (COA) has flagged the Metropolitan Manila Development Authority for maintaining approximately P9.22 billion in uninsured assets, marking a failure to comply with mandatory insurance provisions under Philippine law. The audit review, contained in the COA's 2025 report, raises concerns about the adequacy of financial safeguards protecting valuable public infrastructure and equipment managed by the agency.

The MMDA, which oversees critical metropolitan services across the capital region, has been cited for failing to secure insurance coverage on a substantial portion of its property holdings. This gap in compliance exposes the government to considerable financial risk should the uninsured assets be damaged, lost, or destroyed through unforeseen circumstances including natural disasters or accidents.

Insurance requirements for government properties are established to protect public assets and ensure fiscal responsibility in the management of state resources. The COA's identification of the coverage shortfall signals the need for immediate remedial action by MMDA leadership to bring its insurance practices into full regulatory compliance and mitigate ongoing financial vulnerability.

The finding is part of a broader COA audit examining MMDA's adherence to government financial and operational standards. The agency has been directed to address the deficiency, though specific timelines for compliance or financial penalties have not been immediately disclosed.