3 Iloilo villages chosen as pilot sites for PCIC program
Three barangays from the municipality of Dumangas, Iloilo have been chosen as pilot sites for the weather index-based insurance program that will be implemented by the Philippine Crop Insurance Corp.
Charlito Brilleta, PCIC officer-in-charge and regional manager, said the new concept that will be funded by the World Bank is expected to take off sometime first quarter of next year to cover an initial 75 farmers.
The insurance coverage that will cover damages caused by natural calamities will be piloted in barangays Cayos, Paloc Bigque and Sulangan, he added.
Norman Cajucon, PCIC acting vice president, said during his recent visit explained that the traditional system of the multi-crop insurance which covers all natural calamities “involves visiting the site during under writing and adjustment period.”
However, under the weather index-based insurance program, visitation will no longer be required because there will be parameters that will serve as their bases for the computation.
“The payment will be faster because we need not go to the field to verify. This will substantially decrease the overhead thus the premium payment of our farmers will also lessen,” he said.*PNA
