A Memorandum of Agreement (MOA) was signed between the Philippine Crop Insurance Corporation (PCIC) and the Bureau of Soils and Water Management (BWSM) on 12 July 2011 at the BSWM Building,   Visayas Avenue, Elliptical Road, Diliman, Quezon City.

The BSWM, as mandated by Executive Order No. 116, is a staff agency under the Department of Agriculture that advises and renders assistance on matters relative to the utilization of soils and water as vital agricultural resources. The said agency likewise undertakes the design, preparation and implementation of Small Scale Irrigation Projects with the Local Government Units and Regional Field Units of the Department of Agriculture.

Under the said agreement, the PCIC will provide insurance cover on the assets of BSWM which includes: buildings and machineries; equipment and transportation; and small scale irrigation facilities, such as small water impounding dams, small diversion dams, shallow tube wells, small farm reservoirs, farm buildings and other fixed assets. The BSWM will also actively promote through information dissemination PCIC’s agricultural asset cover and term insurance packages to insure the life and limbs of farmers in the countryside.

Present during the MOA signing were Atty. Jovy C. Bernabe (PCIC President), Mr. Silvino Q. Tejada, CESO III (BWSM Executive Director), Mr. Antonio S. Uy, II, CESO V (PCIC Acting Vice-President For Corporate Business Affairs Group) and Engr. Arnulfo B. Gesite (OIC-WRMD).