Insurance coverage helps ensure agricultural productivity in the country
By Minerva BC Newman
Cebu, Philippines (02 March) -- The Philippine Crop Insurance Corporation (PCIC) helps ensure agricultural productivity in the country through its insurance package services to all farmers nationwide, specifically subsistence farmers.
PCIC president, Atty. Jovy Bernabe in a press conference in Cebu recently said, the corporation has paid more than P82-Million to about 14,500 farmers in the country as of December 2008.
Bernabe added, PCIC gives insurance packages to the agriculture sector that are cheap and affordable to farmers.
"We are continuously trying to educate and inform the farmers on the importance of having crop and non-crop insurance and its benefits to the agriculture sector," Bernabe said.
He went on that PCIC covers all kinds of agricultural products that include rice, corn, high-value commercial crops to livestock and others.
This will protect the country's agricultural producers, particularly the subsistence farmers against losses caused by natural calamities such as typhoons, floods, drought, earthquakes and volcanic eruptions as well as plant diseases and pest infestations.
PCIC also covers non-crop insurance that include agricultural machineries, warehouses, tractors, rice mills, irrigation facilities and other farm equipments to protect them against fire, lightning, theft, earthquakes and other calamities that may befell the farmers, Bernabe added.
The PCIC president was here in Cebu to preside over the PCIC Board of Directors (BOD) meeting and officiate the signing of Memorandum of Understanding and Agreements with Land Bank of the Philippines, Palm Inc., Catmon Community Multi-purpose Cooperative and NIA-Cebu and other activities that were held on Feb. 26 at the Crown Regency Hotel, Cebu City.
In the same press conference, David Villanueva, representative of the subsistence farmers in the Visayas area told the media that his group has benefited well from PCIC's insurance coverage because it is very accessible.
"PCIC operates in all regions of the country and it can directly pay the farmers in cases of losses and damages," Villanueva said.
He added that the premiums paid by farmers are in a sense subsidized by the government because they are very affordable to subsistence farmers, who are their main clients.
According to Villanueva, PCIC's insurance services are very accessible because it has accredited underwriters from local rural banks, LBP, cooperatives, DA offices in towns, and irrigators' associations in all regions in the country.
In similar developments, PCIC-7 regional director Antonio Uy also reported that in Central Visayas alone, more than P2.682-Million worth of claims had been given to some 9,071 farmers and that PCIC-7 has covered a total of P173,578,210 worth of claims in 2008. (PIA-7/MBCN) [top]