PCIC-Region O2-DBP Makes Claiming of Insurance Money Easier
It will be easier for Cagayan farmers to claim insurance money.
This, after the PCIC RO2 inked a Memorandum of Agreement with the Development Bank of the Philippines (DBP) that will allow the electronic disbursement for crop insurance indemnity claims through the issuance of Prepaid Cards.
Under this scheme, farmer-claimants shall be paid through their DBP Prepaid Cards which they can use to withdraw from any Automated Teller Machine (ATM). Thus, claimants no longer need to travel to encash their indemnity checks at PCIC depository bank.
“This new payment scheme is in line with our efforts to automate the operations of the PCIC,” Regional Manager Edna Marallag said. “With this agreement, we look to provide timely and more convenient payment of claims.”
The MOA was signed for PCIC by Ms. Marallag and by Chief of Administrative and Finance Division Florante Miguel as witness, and for DBP by Head-BBG Northern Luzon Dolores Guevara, and DBP-RGC Tuguegarao Branch Manager Adonis Catabay.