A tripartite Memorandum of Agreement MOA among the Department of Agriculture thru the DA Regional Field Office II, PCIC Regional Office II and CREDO Savings and Agrarian Reform Cooperative (CREDO Co-op) was signed on July 30, 2012. The MOA provides for the transfer of Php2.500 million to PCIC to subsidize at least 50% of the total premiums due from the farmers. The subsidy will benefit some 710 members of the cooperative tilling around 1,223 hectares of corn production area with an estimated total amount of insurance cover of Php24.46 million.
Regional Executive Director Lucrecio R. Alviar, Jr. of the Department of Agriculture Regional Field Office II turned over the premium payment to PCIC Regional Office II after the signing of the MOA.
Likewise, a MOA was signed earlier between the PCIC and CREDO Co-op that provides for the accreditation of the latter as underwriter/solicitor for PCIC insurance products.
|PCIC-DA-CREDO MOA Signing at DARFO2, Tuguegarao City on 30 July 2012. Present during the signing of the tripartite MOA are (L-R): DA RFOII CFO Jaime Pagalilauan, PCIC ROII MSD Chief Rodelia Pagaddu, PCIC ROII Manager Edna SP. Marallag, DA RFOII RED Lucrecio R. Alviar, Jr, CREDO Coop Founder Samuel O. Benito, CREDO GM Esex R. Lara, and a CREDO Staff.|
|DA RFOII RED Lucrecio R. Alviar, Jr. hands over the premium payment to PCIC ROII RM Edna S.P. Marallag after the tripartite MOA signing on July 30, 2012.|