SoCot farmers get P60.4-M indemnity from PCIC

GENERAL SANTOS CITY--The Philippine Crop Insurance Corp. (PCIC) has released some P60.4 million in indemnity or insurance compensation to farmers in South Cotabato province, who were affected by natural disasters, plant diseases and pest infestations.

Bonifacio Pales, PCIC-Region 11 manager, said Wednesday the indemnity was for the recorded crop and livestock losses since last year of around 15,700 farmers within the province’s 10 towns and lone city.

“It covers production losses for palay, corn, high-value crops and livestock, and compensation under our term insurance packages,” he said.

He said indemnity for palay received the most number of claims, reaching a total value of P58.2 million.

Around 1.7 million worth of claims were released for corn crops, P85,941 for high-value crops, P33,325 for livestock, 33,325 and P328,000 for the term insurance packages, he said.

Pales said the agency already released around P19.7 million in indemnity this year to farmers in Sarangani’s seven municipalities.

In the entire Region 11, he said they released a total of P273.6 million in indemnity claims last year.

For 2018, he said the regional office has a total allocation of P285 million for crop insurance claims.

Pales said they already received around P64 million worth of claims as of the end of May, with P18 million coming from farmers in South Cotabato.

The official said they are currently working on enlisting more individual farmers and groups into their insurance programs.

Those eligible to apply are borrowing farmers or group of farmers who obtain production loans from any lending institution participating in the government-supervised production programs, he said.

It also covers self-financed farmers and farmers’ groups that agree to place themselves under the technical supervision of PCIC-accredited agricultural production technicians, as well as those duly qualified under the government corporation insurance system, he added.

Although a part of Region 12, South Cotabato as well as Sarangani Province remained under the operational coverage of PCIC Region 11.

The two areas were previously under the administrative coverage of Region 11, along with the Davao provinces. (PNA)