MANILA, Philippines — The Philippine Crop Insurance Corp. (PCIC) will pay P36 million in insurance to help farmers affected by typhoons and heavy rain from the southwest monsoon, as the sector is facing challenges due to flooding.
In a statement on Friday, state-run PCIC said it had mobilized its regional offices to validate losses and speed up claims processing for 5,005 farmers across different regions.
READ: Farm damage hits P689.66M amid storms, habagat—DA
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According to initial estimates, the insured damage amounted to P35.67 million across six regions.
The Ilocos Region reported the largest losses, estimated at P9.89 million. Central Luzon followed with P8.80 million and Mimaropa, P7.56 million.
Calabarzon incurred P5.04 million in projected losses, while Cagayan Valley and Western Visayas sustained P3.47 million and P902,000 in damage, respectively.
PCIC said Central Luzon recorded the most affected farmers, with 1,836, followed by the Ilocos Region with 1,218 and Mimaropa with 836.
Among crops, rice accounted for the largest share of insured losses at P25.60 million. Corn damage was pegged at P3.55 million and high-value crops at P3.73 million.
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Moreover, PCIC President Jovy Bernabe said the state-run insurer is improving its response efforts to help affected recover from the severe impact of weather disturbances.
“We are stepping up our efforts to assess damage, process claims, and deliver insurance assistance faster so our farmers can get back on their feet and return to production,” Bernabe said.
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READ: PCIC sees more farmers, fishers covered by insurance
For his part, Agriculture Secretary Francisco Tiu Laurel Jr. said delivering timely interventions to farmers can help prevent temporary losses from becoming long-term livelihood setbacks.
“We need to respond immediately to the needs of our farmers and fisherfolk after every calamity so they can recover quickly and sustain their livelihoods,” Tiu Laurel said.
Still, PCIC said it continues assisting affected farmers and accelerate the processing of legitimate claims.
In the meantime, Bernabe said registered farmers and fisherfolk may secure premium-free crop insurance from the PCIC, as long as they enroll every planting season or when raising new livestock.
He stated that insurance may also cover farm equipment and other agricultural assets.
As of August 13, agricultural damage due to the combined effects of Tropical Cyclones Luis and Maymay and the enhanced southwest monsoon amounted to P689.66 million.
It affected 21,115 farmers in the regions of Ilocos, Cagayan Valley, Central Luzon, Calabarzon, Mimaropa and Western Visayas.
