The damage caused by Severe Tropical Storm Kristine found that indemnification payments would amount to at least P666.5 million, the Philippine Crop Insurance Corp.’s (PCIC) initial assessments indicated.
According to the Department of Agriculture (DA) Secretary Francisco Tiu Laurel Jr. and PCIC President JB Jovy Bernabe, the rapid assessment conducted on PCIC-insured farms affected by Kristine from October 22 to 25 revealed that 86,066 farmers across 10 regions of the country were impacted. Over half came from Central Luzon, the Bicol Region, and MIMAROPA (Region 4B).
Most of the damage was in rice, high-value crops, and fisheries. According to the DA, the expected insurance payments were estimated at P413.6 million for rice, while P167.9 million is predicted for high-value crops and P27.7 million for fisheries.
“We have set aside an initial amount of P667 million for insurance payments to around 86,066 farmers,” PCIC President Bernabe said.
The DA Chief also instructed the PCIC to be prepared for possible damages from Super Typhoon Leon, despite PAGASA’s projection that it will not make landfall in the country. He also asked that the processing for insurance claims be done quickly to ensure that all possible assistance will be given to help farmers recover from the disaster.
“The pace of recovery for agriculture after a disaster like this will be determined by how quickly the government can provide inputs and financial assistance to farmers and fisherfolk. That is why I have ordered all agencies of the Department of Agriculture, including attached corporations such as the NFA (National Food Authority) and PCIC, to conduct quick needs assessments so that help can be provided immediately,” the DA Secretary ended.
