DA: PCIC earmarks P571M for insurance claims of farmers affected by Tino, Uwan

The Department of Agriculture (DA) on Tuesday said its attached state-owned firm Philippine Crop Insurance Corp. (PCIC) has allocated an initial P571.3 million to compensate insured farmers hit by Typhoons Tino and Uwan.

In a statement, Agriculture Secretary Francisco Tiu Laurel Jr. said, “This is part of the assistance package ordered by President Ferdinand Marcos Jr. to help food producers swiftly recover.”

Tiu Laureal added that wider crop insurance coverage is becoming increasingly critical as climate change intensifies the frequency and severity of extreme weather events.

“Hopefully, more of our agricultural stakeholders can be covered by the PCIC so the sector can better cope with disasters,” he said.

Citing PCIC president Jovy Bernabe’s report, Tiu Laurel said that, as of November 11, there are about 65,176 insured farmers across 14 regions affected by the back-to-back typhoons. 

Most of the affected farmers cultivate rice, corn, and high-value crops.

Initial assessments indicate losses of around P147.3 million for rice, P55.6 million for corn, and P224.3 million for high-value crops. 

Region V —home to hard-hit Catanduanes— recorded the highest number of claimants at 10,958 with potential payouts estimated at P119.4 million.

PCIC’s regional teams have been instructed to extend assistance on the ground and fast-track claims processing to prevent cash-flow disruptions for affected farmers, according to Bernabe.

Latest estimates from the DA showed that total damage and losses from Uwan and Tino already reached P4.13 billion. 

The storms wiped out an estimated 19.2 million metric tons of production across 43,882 hectares, affecting not only crops but also coconut farms, livestock and poultry, fisheries, agricultural infrastructure, and machinery. —VAL, GMA Integrated News