Capitol inks pact with PCIC for free insurance coverage

CEBU, Philippines - The Cebu provincial government has partnered with the Philippine Crop Insurance Corporation in providing insurance coverage to agricultural and fishery programs and projects to protect the farmers and fishermen in the province from the impact of the climate change and natural calamities.

PCIC provides insurance that covers high value commercial crops, livestock, fisheries, non-crop agricultural assets, lives and limbs of the farmers and fisherfolk, among others.

A memorandum of agreement was entered into by the Capitol and the PCIC yesterday.

Under the insurance scheme, the Capitol will shoulder the total premium cost of the participating local government unit. Joy Bernabe, president of the PCIC, said an amount of P8 million has been allocated by the province for insurance premiums that will benefit around 40,000 farmers and fishermen.

A farmer will automatically be paid P40,000 to P50,000 insurance benefit if his hectare of rice or corn is destroyed by calamity. Under the agreement, PCIC will also conduct trainings on agricultural insurance to Capitol’s agricultural officers and staff.

The province should also provide technical assistance and trainings to the Municipal Agriculture Technicians, farmers and fishermen. Provincial agriculture officer Roldan Saragena said a full free agri-fishery insurance coverage under PCIC has also been enjoyed by the 16 local government units in the province affected by super typhoon Yolanda last year.

A total of P5.6 million has already been shelled out covering the period from January to September this year for 21, 600 fishermen and farmers.

It was earlier reported that more than 74,000 fisherfolk affected by super typhoon Yolanda in Central Visayas have already availed of the free insurance scheme under the PCIC.

A total of P1.184 billion was allotted by the PCIC to cover the insurance for farmers and fisherfolk. Allan Poquita, director of the Bureau of Fisheries and Aquatic Resources-7, said that around 1.2 million fishermen nationwide have been registered early this year. They are targeting to register 1.6 million fisherfolk before the year ends. — (FREEMAN)