PCIC Releases More Than P1 Billion in Claims as of 3rd Quarter of 2018

“We want to come up with faster assessment of damages, to facilitate release of indemnity checks more quickly,” he said.

PCIC has released a total of ₱1.003 Billion in insurance claims as of September 2018.

During the Corporation’s 3rd Quarter operations review and planning conference, PCIC officials revealed that the said amount was distributed to 125,906 beneficiaries. Rice farmers had the lion’s share with 130,166 beneficiaries, followed by corn farmers with 26,047 beneficiaries.

“The PCIC is glad that we have been helping farmers and fisherfolk recover losses brought about by typhoons, pests and diseases,” PCIC President Jovy Bernabe said. “Financial assistance is critical especially after such unfortunate incidents. We have to help our farmers replant, to ensure a stable supply and prevent spikes in food prices.”

This feat, Bernabe said, serves as an inspiration for the Corporation to improve its services, process claims more quickly and increase the number of beneficiaries.

For one, Bernabe said, the Corporation has opened a number of extension offices this year and proposes to hire more people.

“Extreme weather conditions have highlighted the value of crop insurance in recent years,” he said.” As more farmers and fisherfolk avail of our services, we will make sure the agency has the necessary manpower to serve their needs.”

Moreover, Bernabe assured that PCIC will continue to conduct trainings on its personnel to ensure better, efficient service, especially in coming up with accurate and quick valuation of damages.