PCIC allots P1.65 billion for farmers hit by Ompong
Philippine Crop Insurance Corporation (PCIC) is set to release P1.65 billion for farmers whose crops were damaged by typhoon Ompong.
“We will speed up the adjustment/inspection of the farms and process the claims immediately,” PCIC President Jovy C. Bernabe said.
The PCIC is an attached agency of the Department of Agriculture (DA) that is tasked to provide affordable and accessible agricultural insurance on crops and other agricultural products.
Bernabe said the agency’s regional offices are now functioning 24 hours daily to ensure non-stop processing of the huge number of claims and financial documents.
PCIC estimates that it will pay a total of P1.65 billion worth of insurance to 262,057 farmers.
These farmers planted rice, corn and high-value crops in the six regions affected by Ompong. Region II got hit worst, as the PCIC allocated P585 million for the region. This was followed by Region I, with the PCIC allocating P510 million.
“We have allocated sufficient funds to help farmers recover their investment after Ompong damaged their farmlands,” Bernabe said. “It’s important that we give timely assistance so farmers can replant quickly so they can bounce back from their losses more easily and that we will have a stable food supply.”