Farmers and fisherfolk covered by agricultural insurance and living in provinces under PCIC Regional Office 2 will now receive indemnity thru the Landbank Mastercard Prepaid Cards (LMPC).
This followed the launching ceremony of the PCIC electronic indemnification program in Cagayan Province. The event was led by PCIC RO 2 Officer-in-Charge Jean Bayani and PCIC Board Member Dr. Gina Terencio. They were joined by regional officers of Land Bank of the Philippines (LandBank), and farmers from Iguig and Amulung towns.
The electronic indemnification program is piggy-backed on the LandBank’s LMPC or simply “cash card” which has been described as “an electronic debit card that utilizes the stored-value system like the ATM card.”
The cash card does not require an opening deposit and maintaining balance, and has no dormancy period. It therefore suits the unbanked clients of the PCIC.
PCIC intends to use the cash card as a channel for all indemnity payments for insured farmers and fishefolk who have filed valid claims for damage or losses on their farms. Thru the cash cards, the payments reach the farmers and fisherfolk much faster than when released as checks.
“We thank the Land Bank for working with the PCIC in offering this service,” Ms. Bayani said. “We hope all the farmers and fishers under RO 2 can enlist so that it will be easier to claim indemnity.”
RO2 covers the provinces of Cagayan, Isabela, Quirino, Nueva Viscaya, Batanes, Ifugao, Kalinga and Apayao.
After the launch, the farmers received their indemnity checks and enrolled themselves in the e-indemnity service.
They also participated in a subsequent farmers’ forum. Continuing her nationwide dialogue with PCIC’s stakeholders, Dr. Terencio answered queries and listened to the concerns of the PCIC’s stakeholders. Dr. Terencio is the representative of the Subsistence Farmers sector to the PCIC Board.