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P27-M Insurance Given To Bicolano Farmers

LEGAZPI CITY - The Philippine Crop Insurance Corporation (PCIC) has extended a total of P26,815 million insurance cover to some 2,626 palay farmers in Bicol last year.

Dominco Digamon, PCIC Department Manager, said in Bicol some 1,417 borrowing farmers and another 1,209 self-financed farmers were the beneficiaries of the palay insurance cover last year. A total of 2,626 hectares were placed under the insurance cover of the PCIC.

Digamon said among the Bicol provinces, Camarines Sur topped the amount of insurance cover of P15,980 million as well as the number of farmer beneficiaries of 1,598 broken down to 914 farmer borrowers and 654 self-financed farmers with a total of 1,598 hectares covered.

Albay province follows with P9.410 million insurance cover broken down to 431 borrowing farmers and 510 self-financed farmers with a total of 941 hectares covered while a total of P1,385 million insurance cover was extended in Sorsogon with 72 borrowing farmers and another 11 self-financed farmers for a total of 83 hectares covered.

The lowest insurance cover extended by the agency was Camarines Norte and Catanduanes with only P20,000 for each province broken down to two borrowing farmers and another two for self-financed farmers for each province. Only two hectares in each province were also extended palay insurance cover last year.

No palay insurance cover was extended to the island province of Masbate by the government agency.

The PCIC, in its objectives, coordinates with and makes arrangements with the local office of the Department of Agriculture and its attached agencies, the Department of Agrarian Reform, Department of Environment and Natural Resources, the Quedancor, National Food Authority, National Irrigation Administration and other government agencies directly or indirectly engaged in agriculture for assistance and support in the implementation of the crop and non-crop insurance programs.