President Marcos has urged farmers and fisherfolk in Isabela to enroll under the government's insurance program to protect their livelihood. In his speech during the distribution of certificates of land ownership award (CLOAs) and certificates of condonation with release of mortgage (COCROMs) in...
The Department of Agriculture (DA) has called on the Philippine Crop Insurance Corp. (PCIC) to modernize its operations and enhance the accessibility of its insurance products and services to better cater to farmers, fisherfolk, and livestock raisers. In a statement, Agriculture Secretary Francisco...
President Marcos has issued an executive order (EO) transferring the Philippine Crop Insurance Corp. (PCIC) from the Department of Finance (DOF) to the Department of Agriculture (DA) to make it more responsive to the needs of small farmers, fisherfolk, and other agricultural stakeholders. The EO,...
In light of the ongoing El Niño phenomenon, the Department of Budget and Management (DBM) has provided P900 million to cover crop insurance premiums for farmers and fisherfolk in the country. Budget Secretary Mina F. Pangandaman announced on Sunday, April 7, that the funding has been released to...
Senator Christopher “Bong” Go is now seeking passage of a bill that would expand the services of the Philippine Crop Insurance Corp. (PCIC) and encourage private sector participation in agricultural insurance. Go, in filing Senate Bill No. 2117, said it is necessary to provide better...
The private sector has urged the institutionalization of crop insurance and increase in agricultural land ownership by Filipinos to 25 hectares to ensure that the agriculture sector is bankable and attractive to investors. Philippine Chamber of Commerce and Industry (PCCI) President George T....
Senator Manuel “Lito” Lapid is now pushing for a bill seeking to provide full crop insurance for qualified agrarian reform beneficiaries of the government’s Comprehensive Agrarian Reform Program (CARP). In filing Senate Bill No. 1766, which seeks to amend Republic Act No. 6657, Lapid said it...
A World Bank study recommending reforms in the Philippine Crop Insurance Corp. (PCIC) has found that the state-run firm’s current approach to agricultural insurance neither provides value for money to taxpayers nor adequate protection to farmers. The PCIC is also “very exposed to catastrophe...
PhilHealth, PCIC accounting norms monitored By Chino S. Leyco The Insurance Commission (IC) is closely monitoring the compliance of the Philippine Health Insurance Corp. (PhilHealth) and the Philippine Crop Insurance Corp. (PCIC) with the directive of the Department of Finance (DOF) to adopt...
The Insurance Commission (IC) lauded the state-owned Philippine Crop Insurance Corp. (PCIC) and CARD Pioneer Microinsurance, Inc. (CPMI) for an agreement on agriculture insurance. In a statement, Insurance Commissioner Dennis B. Funa said the co-insurance agreement between PCIC and CPMI would help...
Odette, the strongest typhoon to hit the Philippines in 2021, has dampened the Philippine government’s overall growth outlook for agriculture sector, which already lost over P3-billion worth due to the typhoon. "The growth outlook is dampened," said Agriculture Secretary William Dar said in a...
The Department of Finance (DOF) has directed the Government Service Insurance System (GSIS) and the Land Bank of the Philippines to assist the Philippine Crop Insurance Corp. (PCIC) in managing the risks and enhancement of its investment portfolio. Finance Secretary Carlos G. Dominguez III said the...
