The Philippine Crop Insurance Corp. (PCIC), a government insurance company under the Department of Agriculture, distributed an initial P24.4 million worth of insurance payments to thousands of Bicolano farmers affected by massive flooding caused by Severe Tropical Storm Kristine.
The indemnity checks were distributed by Agriculture Secretary Francisco Tiu Laurel, Jr. to affected farmers during the visit of President Ferdinand Marcos, Jr. to the Bicol Region to check on typhoon victims including the progress of government relief and recovery operations in hard-hit provinces.
Tiu Laurel earlier directed the PCIC to immediately release indemnification payments to help farmers quickly recover from the disaster brought by Kristine.
“We need to equip our farmers and fisherfolk with financial resources to help them quickly get back on their feet, to recover from this disaster brought about by climate change,” the agriculture chief said.
The DA also provided other assistance to farmers, including farm inputs like seeds and fertilizers.
Aside from PCIC indemnification, the DA also provided other assistance to farmers, including farm inputs like seeds and fertilizers.
The PCIC distributed indemnification checks to 2,644 farmers in Albay, Catanduanes, Camarines Norte, Camarines Sur, Masbate and Sorsogon.
The Bicol Region produces rice, corn, vegetables, pili, pineapple, cacao, coconut, livestock and poultry.
PCIC President JB Jovy Bernabe said the distribution of insurance payments is in line with “government’s commitment to support the farmers in the countryside by providing insurance protection and financial assistance through indemnities to help farmers recover from setbacks and continue to contribute to the country’s food security and economic growth”.
“PCIC continues to process insurance claims of affected farmers.”
Bernabe said PCIC continues to process insurance claims of affected farmers.
He said the initial assessment made by the agency already indicated indemnification payments would amount to at least P666.5 million.
