The Philippine Crop Insurance Corp. (PCIC) has set aside P571.3 million to compensate insured farmers affected by Typhoons Tino and Uwan, as the government moves to hasten agricultural recovery from successive climate shocks.
“This forms part of the assistance package ordered by President Ferdinand Marcos Jr. to help food producers recover quickly,” said Agriculture Secretary Francisco Tiu Laurel Jr.
He stressed that expanding crop insurance coverage is becoming more crucial as climate change accelerates the frequency and severity of extreme weather events.
In a report to the Department of Agriculture (DA), PCIC President Jovy Bernabe said that as of Nov. 11, 65,176 insured farmers across 14 regions were affected by the twin typhoons. Most grow rice, corn and high-value crops.
Initial assessments showed estimated losses of P147.3 million for rice, P55.6 million for corn and P224.3 million for high-value crops. Region 5, which includes severely hit Catanduanes, recorded the most claimants at 10,958, with potential payouts reaching P119.4 million.
Bernabe said PCIC regional teams have been directed to provide on-ground assistance and expedite the processing of claims to prevent cash-flow disruptions.
The Department of Agriculture’s latest estimate places total losses from Typhoons Tino and Uwan at P4.13 billion, with about 19.2 million metric tons of production wiped out across 43,882 hectares. Losses include crops, coconut farms, livestock and poultry, fisheries and agricultural infrastructure and machinery.
