The Philippine Crop Insurance Corporation (PCIC) will swiftly compensate insured farmers and fisherfolk for damage to their standing crops and livestock in the wake of Typhoon Quinta and Typhoon Rolly.
In a report to Agriculture Secretary William Dar, PCIC President Jovy Bernabe said the agency has initially estimated farm losses to reach around P1.01 billion.
The amount represents estimated damage to standing rice, corn, and high-value crops (HVC) in over 95,126 hectares and 1,997 small fisheries projects, including boats and fishing gears, in around 30 provinces. The damage is subject to validation by the field personnel of PCIC.
The number of insured farmers and fisherfolk affected stands at about 77,471.
Among crops, HVC sustained the greatest damage at P668.97 million (M); with rice at P285.04M; and corn, P6.15M. Poultry and livestock damage was estimated at P37.73M while that of fisheries, at P15.37M. By size of farms affected, HVC tops the list, with around 66,261 hectares of damaged crops; rice with 28,495 hectares; and corn, 370 hectares.
Among the regions, Bicol Region suffered the most with cost of damage estimated at P637.53M followed by MIMAROPA, with P150.46M, and CALABARZON, with P97.38M. Central Luzon and Cagayan Valley suffered P52.65M and P75.25M, respectively.
Secretary Dar has ordered PCIC’s regional and head office staff members to facilitate the conduct of insurance adjustment activities and settlement of claims.
PCIC indemnifies its insured farmers and fishers within a time frame shorter than the 60 days set by regulation, provided the claims are properly supported by documents. The agency’s insurance processes are ISO 9001:2015 certified.
Typhoon Quinta roared through the four regions, including parts of Western Visayas on October 25-26 bringing winds reaching from 150kph speeds and heavy rain.
Typhoon Rolly made landfall on November 1, bringing heavy rain and 225kph winds, the strongest for a typhoon in the world this year, along almost the same path as Typhoon Quinta, but with significant impacts on Cagayan Valley. ###
