THE Philippine Crop Insurance Corp. (PCIC) will expand services to more farmers and increase payouts for claims involving staple crops to take advantage of its expanded budget, the Department of Agriculture (DA) said.
In a statement, the DA said the additional funds will raise insurance coverage for rice and corn to P25,000 per hectare, up from P20,000, providing protection against total crop losses from natural calamities, pests, and diseases under the multi-peril insurance program.
The 2026 General Appropriations Act increased the PCIC’s budget by 45% to a record P6.5 billion.
The expanded budget is also expected to cover 2.93 million farmers and fisherfolk in 2026, up nearly 25% from 2.35 million a year earlier, according to the DA.
The free insurance program covers rice, corn, high-value crops, fisheries, livestock, and non-crop agricultural assets, but excludes credit and life term insurance.
The program’s funding comes from the government premium subsidy, which supports insurance for farmers and fisherfolk enrolled in the Registry System for Basic Sectors in Agriculture.
Free coverage will also be extended to coconut farmers registered under the National Coconut Farmers Registry System, supported by roughly P500 million from the Coconut Farmers and Industry Trust Fund.
This year, around 714,000 coconut farmers are expected to be insured, up nearly 12% from 640,000 in 2025.
“Beyond subsidized clients, PCIC continues to offer insurance to producers who choose to pay regular premiums,” the DA added.
Including non-subsidized clients, total insured farmers and fisherfolk are projected to total 3.68 million in 2026, up 12%.
The DA said the PCIC is also accelerating digitalization and modernization to improve service delivery. — Vonn Andrei E. Villamiel
