The Department of Agriculture (DA) plans taking back management of the Philippine Crop Insurance Corp. (PCIC) from the Department of Finance to better manage its operations and benefit agricultural stakeholders.
“It is hard when you are talking of calamities and indemnification and you do not have control over the insurance. It is hard to harmonize with the operations. Maybe what we need is identify what were the pitfalls before and strengthen them.”
Rex Estoperez, DA spokesperson
PCIC manages the government’s agricultural insurance program and operates as an attached agency of the Department of Finance (DOF) on the basis of Executive Order 148 issued by then President Rodrigo Duterte in September 2021.
Estoperez projects the return to DA supervision within the year when the sector is dealing with a number of urgencies that include the African swine fever, avian influenza and a host of calamities, among others.
He emphasized the proposed retaking of responsibility is meant to harmonize the PCIC’s operations with that of the DA although he acknowledged this has yet to be brought to the attention of President Ferdinand Marcos Jr. and his Cabinet.
Based on 2022 data, the PCIC insured the crops of 3,839,185 farmers, fisherfolks and cooperatives for P128.73 billion and generate premium of P6.06 billion.
Farmer claimants that year totaled 702,673 and been indemnified P4.49 billion.
