From: http://www.sunstar.com.ph/, By Oscar C. Pineda
Article link: http://www.sunstar.com.ph/cebu/local-news/2014/10/02/p8m-insurance-agri-fishery-368745

CAPITOL renewed the agriculture-fishery insurance of Cebu’s marginal farmers and fisherfolk and Gov. Hilario Davide III signed the memorandum of agreement (MOA) with the Philippine Crop Insurance Corp. (PCIC).

The Province will pay the P8-million premium for the insurance.

Davide said the target is to insure 80,000 farmers and fishermen.

Currently, 40,000 farmers and fisherfolk are already covered by the P8-million premium.

PCIC president Jovy Bernabe, who signed on behalf of the government insurance company, said the firm targets an additional 30,000 beneficiaries.

One of the responsibilities of the PCIC is to accredit the Capitol as a partner in the implementation of insurance programs for rice, corn, high-value commercial crops, livestock, fisheries, non-crop agricultural assets, term insurance packages or the
insurance protection of farmers and fishermen.

The Province, for its part, is responsible for allocating funds for the cost of insurance premiums.

Davide and PCIC Regional Manager Cresencio Deligero agreed that the insurance program enhances productivity of farmers and fishermen since it cushions the impact of storms, floods and droughts caused by climate change.

An insured hectare of rice, if destroyed, will be paid between P40,000 and P50,000.

The insurance program also has an automatic death benefit of P10,000 for rice and corn
farmers.

Cebu farmers and fisherfolk will enjoy the P8-million comprehensive program for agri-fishery programs and the Registry System for Basic Sectors in Agriculture.

The latter covers 70 provinces, including Cebu, and has a P1-billion allocation for the premiums.

The 16 local government units in northern Cebu affected by super typhoon Yolanda also have a P28-million insurance coverage.

Provincial Agriculturist Roldan Saragena said there will be no duplication in the program.

According to the Provincial Agriculturist’s Office, over a third of the province is agricultural land covering 163,328 hectares out of the total land area of 508,839.

More than half or 90,471 hectares are corn fields. Only 2,417 hectares are rice fields.

From: http://www.sunstar.com.ph/, By Oscar C. Pineda
Article link: http://www.sunstar.com.ph/cebu/local-news/2014/10/02/p8m-insurance-agri-fishery-368745