PCIC prepares P36 million for storm-hit farmers

The Philippine Crop Insurance Corp. is preparing nearly P36 million in insurance payouts as thousands of farmers recover from crop damage caused by Typhoons Luis and Maymay and the southwest monsoon.

PCIC President Jovy Bernabe said the state insurer has mobilized its regional offices to validate losses and speed up the processing of claims covering damage recorded from Aug. 1 to 11.

Initial assessments placed insured losses at P35.67 million involving 5,005 farmers across six regions. Region III had the highest number of affected farmers at 1,836, followed by Region I with 1,218 and Region IV-B with 836.

Region I posted the largest estimated insured damage at P9.89 million, followed by Region III at P8.80 million and Region IV-B at P7.56 million. Region IV-A, Region II and Region VI recorded P5.04 million, P3.47 million and P920,000, respectively.

Rice farms accounted for most of the losses at P25.60 million, while corn damage reached P3.55 million and high-value crops P3.73 million.

Agriculture Secretary Francisco Tiu Laurel Jr. stressed that immediate assistance is crucial for farmers whose incomes depend on every production cycle.

“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.

Bernabe said PCIC is using technology to accelerate field assessments and claims processing.

“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.

The initial figures remain subject to field validation. PCIC said legitimate claims will be expedited as assessments continue.