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HomeThe RegionNorthern MindanaoDAR, PCIC provides P1-B agricultural insurance for agrarian reform beneficiaries

DAR, PCIC provides P1-B agricultural insurance for agrarian reform beneficiaries

The Department of Agrarian Reform (DAR) and the Philippine Crop Insurance Corp. (PCIC) have joined hands to provide agricultural insurance coverage worth Php1 billion to agrarian reform beneficiaries (ARBs) and their household members for the fiscal year 2020.

The insurance program, dubbed as Agrarian Reform Beneficiaries-Agricultural Insurance Program (ARB-AIP), covers farmers’ crops damaged by diseases, pest infestation, and natural calamities, such as typhoons, floods, drought, tornado, earthquakes, volcanic eruptions, and climate change.

The partnership was formalized through the signing of a joint memorandum circular between DAR Secretary John Castriciones and PCIC President Jovy Bernabe in a ceremony held October 1, 2020 and will be in effect until December 2020, unless extended or terminated.

“The insurance program will be of great help to our farmer-beneficiaries since it guarantees that they can recoup farm losses that they may have incurred as a result of natural calamities,” Castriciones said.

The fund allocation of PHP1 billion will cover some 500,000 ARBs listed in the registry system in 2020.

Castriciones said the insurance program also covers the lives and limbs of the insured farmers and members of their families. He stressed, however, that “only farmers listed under the Registry System for Basic Sectors in Agriculture (RSBSA)” can avail themselves of the insurance program.

Under the agreement, the DAR will be responsible in identifying the RSBSA-registered farmers and members of their families, assisting them in preparing required documents, endorsing them to the PCIC for insurance coverage, and ensuring that they are issued with certificates of insurance coverage or insurance policy.

Among others, the DAR will also assist the beneficiaries in the preparation of documentary requirements for application for insurance cover to be submitted to the concerned PCIC regional or extension office; identify, recommend and assist ARB cooperatives or organizations and partner microfinance institutions to act as PCIC underwriters; and submit a monthly status on the ARBs’ availment.

The PCIC, meanwhile, will provide agricultural insurance to qualified beneficiaries listed in the RSBSA; issue insurance policy upon receipt and approval of the application for coverage; facilitate field assessment and settlement of claims of farmers; furnish DAR with monthly status reports; and initiate coordinative meeting between the partner-agencies regarding program implementation.

The two agencies will also create three teams to ensure effective program implementation. These are the ARB-AIP Operations Team, Program Secretariat, and PCIC-DAR Regional Coordinating Team.
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