QUEZON CITY (PIA) — A total of 2,644 farmers in Bicol have already received P24.4 million from the Philippine Crop Insurance Corp. (PCIC) as indemnification for the damages they incurred from the onslaught of Severe Tropical Storm Kristine (Trami).
Agriculture Secretary Francisco Tiu Laurel Jr. distributed the indemnification checks to the affected farmers on Wednesday, Nov. 6, during President Ferdinand Marcos Jr.’s visit to Bicol to check on typhoon victims and the progress of government relief and recovery operations in hard-hit provinces.
The region produces rice, corn, vegetables, pili, pineapple, cacao, coconut, livestock, and poultry.
The indemnification proceeds are expected to help cover the financial losses incurred by the farmers as a result of the storm.
PCIC, a government insurance company under the DA, said that the recipient farmers were from Albay, Catanduanes, Camarines Norte, Camarines Sur, Masbate, and Sorsogon.
Laurel earlier directed the PCIC to immediately release indemnification payments to help farmers quickly recover from the disaster brought by Kristine.
The DA chief emphasized, “We need to equip our farmers and fisherfolk with financial resources to help them quickly get back on their feet to recover from this disaster brought about by climate change.”
PCIC President Jovy Bernabe said they continue to process insurance claims of affected farmers, as he noted that the initial assessment made by the agency already indicated that indemnification payments to the affected farmers would amount to at least P666.5 million.
He underscored that the distribution of insurance payments is in line with the “government’s commitment to supporting the farmers in the countryside by providing insurance protection and financial assistance through indemnities to help farmers recover from setbacks and continue to contribute to the country’s food security and economic growth.”
Aside from the PCIC indemnification, the DA also provided other assistance to farmers, including farm inputs like seeds and fertilizers. (PIA DMD)
