Crop insurance payouts expected for over 10,000 farmers following typhoon

THE Philippine Crop Insurance Corp. (PCIC) said on Monday that it is due to compensate 10,781 farmers affected by Typhoon Julian (international name: Krathon).

In a statement, the PCIC said it will initially disburse indemnities of P93.8 million to farmers from the Cordillera Administrative Region (CAR), Region I, and Region II.

“We need to immediately indemnify our farmers to restore their financial health so they can quickly recover from this calamity,” Agriculture Secretary Francisco P. Tiu Laurel, Jr. said.

“Fast-tracking the release of their insurance claims will foster confidence in the PCIC among our farmers and encourage more investors in agriculture,” he added.

Agricultural damage due to Typhoon Julian was estimated at P607.38 million, with lost volume reckoned at 25,407 metric tons, according to a Department of Agriculture (DA) bulletin released on Oct. 7.

“We have also issued strict instructions to our staff to assist affected farmers and speed up the processing of their damage claims,” PCIC President Jovy C. Bernabe said.

The PCIC said insured farmers from Region I amounted to 6,585. There were 2,355 such farmers from CAR and 1,841 from Region II.

The Philippines experiences about 20 tropical cyclones each year which heighten the risk of wind damage and flooding.

The government weather service, known as PAGASA (Philippine Atmospheric, Geophysical and Astronomical Services Administration), estimates a 71% chance of La Niña forming between September and November, likely persisting until the first quarter.

This is expected to bring an increased likelihood of typhoons, affecting crop production.

“I expect that we should perform much, much better next year. The DA must be ready to tackle whatever comes its way without excuses,” Mr. Laurel said. — Adrian H. Halili