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Wednesday, October 5, 2011

DA-PCIC to pay P334 M in crop insurance to typhoon-affected farmers

The Department of Agriculture through its Philippine Crop Insurance Corporation (DA-PCIC) will expedite the release of P334 million to Luzon farmers whose crops were damaged by typhoons ‘Pedring’ and ‘Quiel’ last week.

The amount is the biggest payout the agency has made to date.

In a report to Sec. Alcala, PCIC President Jovy C. Bernabe said the magnitude of the indemnity owes not only to the severity of the twin calamities, but also to the expansion of PCIC’s insurance coverage among farmers during the last 12 months.

Bernabe said they will also reactivate their adjusters in the private sector to help PCIC cope with the huge task of verifying the crop insurance claims of farmers.

Fast-tracking the indemnity payments will enable particularly rice and corn farmers to recover their losses and re-plant again, Bernabe said.

Jovy C. Bernabe reported that the combined damage of excessive rain and strong wind to insured crop and non-crop agricultural assets reached.

Bernabe said their preliminary assessment showed about P333.93-million worth of crops, mostly palay, were insured in 30 provinces covering the entire Luzon. The affected farmers who were able to insure their crops totaled 26,794, with a combined farm area of 40,138 hectares.

He assured farmers that the PCIC will process and pay their crop insurance claims in a speedy and efficient manner. Norman R. Cajucom, Acting Senior Vice President, PHILIPPINE CROP INSURANCE CORPORATION (PCIC)

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