PCIC readies P36M payouts for storm-hit farmers

The Department of Agriculture (DA) said Friday the Philippine Crop Insurance Corp. (PCIC) is already preparing P36 million in insurance payouts for 5,005 farmers whose insured farms were damaged by Typhoons Luis and Maymay, and the southwest monsoon from August 1 to 11, 2026.

In a statement, the DA, citing an initial report to Agriculture Secretary Francisco Tiu Laurel Jr. by PCIC president Jovy Bernabe, said that initial estimates put insured damage at P35.67 million across six regions.

The Agriculture Department said Region III had the most affected farmers, with 1,836, followed by Region I with 1,218, and Region IV-B with 836.

Bernabe, in his report, told the Agriculture chief that the state crop insurer had mobilized its regional offices to validate losses and speed up claims processing, according to the DA.

The agency said rice accounted for the largest share of insured losses at P25.60 million, while corn damage was estimated at P3.55 million and high-value crops at P3.73 million.

“We need to respond immediately to the needs of our farmers and fisherfolk after every calamity so they can recover quickly and sustain their livelihoods,” said Tiu Laurel.

The Agriculture chief added that timely assistance is particularly important for farmers who depend on each production cycle to generate income and finance the next crop.

Bernabe, for his part, said the PCIC is strengthening its response to get affected farmers back on their feet as quickly as possible. He said the agency is also leveraging new technologies to accelerate damage assessment.

“We are stepping up our efforts to assess damage, process claims, and deliver insurance assistance faster so our farmers can get back on their feet and return to production,” said Bernabe.

The DA said the PCIC’s initial assessment may still change as field validation continues. Still, the figures already highlight the financial role of crop insurance in the event of extreme weather that disrupts farm operations.—LDF, GMA News