seconday air injection pump

This is leaking on a 02 jetta 1.8t on start up when the engine is cold. Is that bad? what exactly does this do? i know it injects intake air into the exhaust only on cold starts and then the valve will shut after the engine is warm to have better emmissions. the pressure clamps on the pump are loose and it leaks. what happens if i just leave it?

water into engine from pump that accumulates water when car is not run. Also will cause combi-valve to go bad.

Pumps are about 3-400.00