PCIC RO 2 gives first payout under 2-in-1 Rice Crop Insurance
PCIC Regional Office 2 (RO 2) gives the first payout of the Weather-Index Based Insurance (WIBI) under the 2-in-1 Rice Crop Insurance Program.
Ms. Maria Cuntapay, a resident of Magalalag East, Enrile, Cagayan, received ₱6,310 at the PCIC Regional Office on November 20, 2019.
“Nabigla ako nung tinawagan ako ng PCIC na meron akong makukuhang tseke kasi hindi naman po ako nagclaim para sa pinsala sa pananim,” Ms. Cuntapay said. Malaking tulong po ang halagang aking nakuha para pandagdag sa aking puhunan sa pagsasaka.”
The payout was made due to an indication of index breach on low rainfall based on the rainfall data provided by the Philippine Atmospheric Geophysical and Astronomical Services Administration (PAG-ASA).
Under the WIBI, farmers receive checks indemnity if the amount of rainfall in the farm is significantly low, as detected by PAG-ASA. It is one of the two (2) insurance products under the 2-in-1 Rice Crop Insurance, a special insurance program implemented by the PCIC in partnership with the United Nations Development Programme (UNDP), PAG-ASA, the Philippine Rice Research Institute, and the local government units of Enrile, Iguig and Solana, Cagayan.
Engr. George Michael Soriano, PCIC 2-in-1 Rice Crop Insurance program focal person, said that they continue to monitor all insured farms for any possible payout or claim for indemnity.
The awarding ceremony was attended by PCIC Marketing & Sales Division Chief Jean Bayani, Administrative & Finance Division Chief Florante Miguel, and Claims & Adjustment Division Chief Benito Taguibao,