PCIC to dole out P1.65-B in insurance to Ompong-affected farmers

The Philippine Crop Insurance Corp. (PCIC) will allot P1.65 billion in insurance to farmers affected by Typhoon Ompong.
In a statement on Tuesday, PCIC President Jovy C. Bernabe said they will be fast tracking the processing of this allotment to speed up the release of insurance to farmers who availed of their program.
“It’s important that we give timely assistance so farmers can replant quickly so they can bounce back from their losses more easily and that we will have a stable food supply,” he said.
Out of the P1.65 billion, P585 million of this will be doled out to Region II, while Region I will receive P510 million.  The insurance will cover around 262,057 farmers.
PCIC is an attached agency under the Department of Agriculture (DA).
The DA yesterday reported that the total agricultural damage caused by Typhoon Ompong reached P26.7 billion, the bulk of which came from devastated rice crops.