The Philippine Crop Insurance Corporation (PCIC) is pushing for a P1 billion increase in its 2026 budget to expand insurance coverage for farmers.

PCIC president Jovy Bernabe said the proposed P5.5 billion budget, up from this year’s P4.5 billion, could enable PCIC to cover an additional 600,000 farmers.

“From around 4.2 million farmers last year, we may reach close to 4.8 or even 5 million farmers next year. That’s a big help to all of us,” he told reporters during the 2025 Sustainable Agriculture Forum organized by the European Chamber of Commerce of the Philippines (ECCP) on April 30, 2025.

Under the proposed allocation, 60 percent will go to rice farmers, 20 percent to corn, with the remainder distributed among high-value crops, livestock, aquaculture, and fisheries.

“It’s just slightly higher, but our target is really determined by the budget,” he said, adding that PCIC’s targets had remained largely unchanged in the past four years despite flat funding.

To stretch its reach, PCIC is also tapping local government units (LGUs) and commercial clients such as banana growers, livestock operators, and tobacco farms.

“LGUs sometimes shoulder the cost of insurance for their farmers. That’s a big support. We’re not relying solely on the General Appropriations Act (GAA),” Bernabe said.

He cited the growing interest in livestock insurance following outbreaks of African Swine Fever (ASF), although many hog farms remain ineligible due to disease restrictions.

PCIC is also piloting satellite mapping technology to improve efficiency and recompense farmers faster in as fast as 10 days.

The average claims processing period is 20 days, far quicker than the 60 days allowed under the law.

Source - https://manilastandard.net