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The House of Representatives recently approved a measure strengthening and expanding the country’s agricultural insurance system to give Filipino farmers and fisherfolk greater protection against typhoons, floods, droughts, diseases and other threats to their livelihoods. House Speaker Faustino “Bojie” Dy III, one of the authors of House Bill No. 10365, stressed the importance of the […]
A lawmaking tandem is pushing for the establishment of a free weather index-based crop insurance (FIBCI) with an automatic payout system to better help small farmers during calamities due to climate change. “House Bill No. 6519 or the Weather Ready Farmers bill seeks to establish a scientific payout system with an automatic payout mechanism based […]
The Philippine Crop Insurance Corporation (PCIC) earmarked P251 million to compensate insured farmers for losses caused by Typhoon Tino. In a report to Agriculture Secretary Francisco Tiu Laurel Jr., PCIC President Jovy Bernabe said the agency’s rapid assessment conducted from November 4 to 7 covered insured farms in nine regions—from Region IV-A and IV-B through […]
In a move to strengthen the resilience of Filipino farmers against worsening climate-related disasters, Senator Kiko Pangilinan is advocating for a significant increase in government support for crop insurance, citing the urgent need to safeguard rural livelihoods amid rising losses due to typhoons, droughts, and pest infestations. In a media interview, Pangilinan lamented that the […]
Senator Kiko Pangilinan has plans to increase crop insurance for farmers as he lamented the adverse impact of natural disasters and calamities on the welfare and livelihood of agricultural workers. In a speech before local farmers in Tuguegarao City, where Pangilinan witnessed the distribution of indemnity checks by the Philippine Crop Insurance Corporation (PCIC), the […]
The Philippine Crop Insurance Corp. (PCIC) s rolling out a pioneering parametric insurance program aimed at speeding up claims settlement for rice farmers affected by extreme weather—a transformative step in PCIC’s approach to agricultural risk management. PCIC President Jovy Bernabe said the innovative insurance model uses remote sensing technologies to automatically trigger payouts based on […]
With successive typhoons hitting the country, AGRI Party-list urged the immediate enactment of a measure expanding crop insurance coverage to protect the livelihood of farmers who lose their hard-earned crops every time a calamity hits. AGRI is the principal author of House Bill (HB) No. 7387 which seeks to expand the services of the Philippine […]
Agriculture Secretary Francisco Tiu Laurel Jr. said initial assessments made by the Philippine Crop Insurance Corp. on damage caused by Severe Tropical Storm Kristine indicated that indemnification payments would amount to at least P666.5 million. In his report to Tiu Laurel, PCIC President JB Jovy Bernabe noted that the rapid assessment of PCIC-insured farms affected […]
The Philippine Crop Insurance Corp. is now back under the supervision and control of the Department of Agriculture nearly three years after it was transferred to the Department of Finance. “The PCIC is hereby attached to the DA for policy and program coordination,” said President Ferdinand Marcos, Jr. in Executive Order 60. PCIC was created […]
AGRI Party-list Rep. Wilbert T. Lee urged the Insurance Commission (IC) to scrap the implementation of its IC Circular Letter No. 2022-34 which seeks to increase the minimum catastrophe (earthquake, typhoon and flood) insurance premium rates, especially because the country’s inflation hit a 14-year high of 8.7% this January. The hike was supposed to be […]