The government has raised the Philippine Crop Insurance Corp. (PCIC) budget to a record P6.5 billion in 2026, up 45 percent from P4.5 billion last year, to give farmers and fisherfolk stronger protection against crop losses.
With the bigger budget, PCIC increased insurance cover for rice and corn to P25,000 per hectare, from P20,000, covering total losses from calamities, pests, and diseases. The funding will also expand free insurance nationwide, allowing PCIC to insure about 2.93 million farmers and fisherfolk in 2026—nearly 25 percent more than last year. Free coverage covers rice, corn, high-value crops, fisheries and aquaculture, livestock, and non-crop farm assets.
The program is funded through government premium subsidies in the General Appropriations Act for registered farmers, with about P500 million from the Coconut Farmers and Industry Trust Fund extending coverage to around 714,000 coconut farmers. Including those who pay regular premiums, PCIC expects total insured farmers and fisherfolk to reach 3.68 million next year.
