Over 9K farmers get insurance payment for crops

Over 9,000 farmers in Region 1 and the Cordillera Administrative Region have received their crop insurance payment amounting to PHP77.8 million, according to the Philippine Crop Insurance Corporation. Gaudencio Tangalin, officer-in-charge of the Claims and Adjustment Division of the PCIC, confirmed this on Friday as he reported that more farmers are now availing of the government insurance program to protect their source of livelihood in times of calamities. 'In time for the typhoon season, we are again conducting training of our force multipliers to speed up the processing of indemnity claims,' he said in a media interview. For 2024, the PCIC has PHP4.5 billion downloaded funds for insurance coverage of farmers and fishers who are under the Registry System for Basic Sector in Agriculture nationwide. Of this amount, Region 1 has an allocation of PHP300 million insurance coverage. 'This is beneficial to our farmers as the insurance guarantees a return of investment in case their crops are damaged or when their animals get sick,' municipal agriculturist Erickson Biag of Currimao town said. He said insurance applications are ongoing at the municipal agriculture office as they aim to insure all farmers and fishers in town. As of end-July this year, some 25,241 farmers in Ilocos Norte have been insured, or about 54.12 percent of the accomplishment target. Region 1 has 103,186 farmers and fishers who are covered by the free agricultural insurance of the government so far. PCIC will pay the qualified farmer about PHP20,000 per hectare of rice or cornfield, depending on the assessed extent of damage. Qualified for the free insurance are those planting on land that are not more than three hectares, fisherfolk with a fish pond or fish cage not bigger than 1,000 square meters, and livestock raisers with not more than 10 cows or carabaos. Farmers can also insure their machinery but not more than three units and fishermen, their boats, not more than three fishing boats. Source: Philippines News Agency