Filipino farmers may just be able to recover their losses from infestation and natural calamities under a P1-billion insurance fund intended for Department of Agrarian Reform (DAR) beneficiaries.
The DAR and the Philippine Crop Insurance Corporation (PCIC) recently signed joint memorandum circular number 4, series of 2021 to set aside P1 billion from the PCIC fund as an insurance premium for agrarian reform beneficiaries (ARBs) nationwide.
Agrarian Secretary Brother John R. Castrisciones said the Agrarian Reform Beneficiaries-Agricultural Insurance Program (ARB-AIP) aims to mitigate the impact of agricultural losses from pests, disease infestations, and weather shocks as a result of climate change and other natural calamities. These include typhoons, floods, drought, tornado, earthquakes, and volcanic eruptions.
Castriciones further said that their goal was to ensure 100 percent coverage of all qualified farmers in the country in order to give them access to timely support or interventions from partner organizations.
“The insurance program will be of great help to our farmer-beneficiaries since it guarantees that they can recover farm losses that they may have incurred as a result of natural calamities,” Castriciones said.
He emphasized, however, that only beneficiaries listed under the Registry System for Basic Sectors in Agriculture (RSBSA) can avail of the insurance program.
Provincial agrarian offices will identify the farmers in their respective areas who are eligible for the free insurance coverage.
An operations team was also formed to ensure the effective implementation of the insurance program.