Philippine Crop Insurance Corporation (PCIC) President Jovy C. Bernabe meets with the country’s rural bankers in a move seen to substantiate the partnership agreement his agency recently signed with the group.
The meeting occurred during the 59th annual national convention of the Rural Bankers Association of the Philippines (RBAP) held from May 24-25 at Aklan.
Invited as a resource speaker, Atty. Bernabe presented and discussed the PCIC’s mandate, thrusts and agricultural insurance products and services. He likewise shared the PCIC’s corporate plans, a key element of which is to continue strengthening tie-ups with potential insurance intermediaries, specially from the private sector.
Atty. Bernabe’s informative talk supported the theme RBAP adopted for the occasion, “Aiming High: Charting a Clear Path for Vibrant Rural Banking Future.”
“A clear understanding of agricultural insurance in the country by the rural bankers is expected to embolden them further to consider farm lending, even to small farmers, a sound investment proposition,” Atty. Bernabe said.
By lowering risks of failure of investments in agriculture and fisheries, agricultural insurance has been proven to increase flow of credit to the farms as well as improve the repayment rate of farmer borrowers.
The outcome is a productive cycle of assured farm investments, continued production and enhanced productivity by farmers, assured farm production for food and raw materials, better lives for farmers, and a less risky farm investment climate.