The Philippine Crop Insurance Corp. (PCIC) on Monday said it had estimated an indemnity of P93.8 million to compensate for farmers whose production has been affected by Typhoon Julian.

A total of 10,781 insured farmers of rice, corn, and high-value crops from the Cordillera Administrative Region (CAR), Ilocos Region, and Cagayan Valley will be indemnified, according to PCIC President Jovy Bernabe.

Agriculture Secretary Francisco Laurel, Jr., said immediate indemnification of typhoon-affected farmers is essential to restore their financial health and recover from the calamity.

He added that expediting the release of their insurance claims will foster farmers' confidence in the PCIC and attract investments in agriculture.

Of the farmers insured with the PCIC, 6,585 are from Ilocos Region, 2,355 from CAR, and 1,841 from Cagayan Valley, data from the Department of Agriculture shows.

Meanwhile, two-thirds of the crop losses worth P62.3 million were reported in the Ilocos Region, with rice losses accounting for P51.3 million.

Bernade said "strict instructions" have already been laid down to PCIC staff to assist and fast-track the processing of the affected farmers' damage claims.