TACLOBAN CITY – The Philippine Crop Insurance Crop (PCIC) in the region is providing a P215 million premium subsidy to farmers affected by supertyphoon Yolanda.
PCIC president Jovy Bernabe said that the three provinces in Samar Island got P165 million from the P1 billion funding intended for poorest provinces. Leyte, Southern Leyte and Biliran provinces got P50 million subsidy.
The initiative shoulders full amount of the premium plus an accident insurance. In the past, the government only shoulders half of the premium cost.
“We are stepping our effort to reach the target of 70,000 farmers who will benefit this crop insurance program this year. Crop insurance is really important because it will protect us if natural calamities happen again,” Bernabe said during the launching of the premium subsidy scheme.
Usually, a farmer pays P890 for every P10, 000 worth of insurance coverage for both rice and corn. The state-owned crop insurance firm also offers 46 types of insurance packages for high value commercial crops.
The P50 million aid for Leyte, Southern Leyte and Biliran farmers and fishermen is part of the P80 million subsidy for Yolanda-affected areas not classified areas in the 20 poorest provinces.
The PCIC’s principal mandate is to provide insurance protection to farmers against losses arising from natural calamities, plant diseases and pest infestations of their rice and corn crops as well as other crops. The agency also provides protection against damage to non-crop agricultural assets. (SARWELL Q.MENIANO)