If its a tufflite epoxy board and the paint is chipping, it's not going to cause your board any damage. It will only take water if it's broken through the lamination/ or you can see foam. But, I do fix many of these types of repair. The boards (mostly)_are a 2 pac finish (Thick, hard paint), but most repairs are done with acrylic auto paints. Very lightly sand/wet & dry the area and apply enough layers of touch-up paint until you can block wet and dry it flat/smooth. Just be carful not to oversand the area cause the paint finish on those boards is thin, so your little chip often turns into a fair size patch that requires airbrushing/spraying and finally a clear coat to gloss up to a polish finish. Give it a go, if it turns out crappy, take it too a professional repairer. I operate Gold Coast ding repairs at 'The DING SHOP'. Buzz me if you need any more tips 0404804498. Good luck Anthony Pols