PCIC gives P24.4M worth of indemnity checks to Kristine-hit farmers in Bicol

The Philippine Crop Insurance Corp. (PCIC), a government insurance company under the Department of Agriculture, on Wednesday provided an initial P24.4 million worth of insurance payments to thousands of Bicolano farmers who were affected by the onslaught of Severe Tropical Storm Kristine.

The indemnity checks were distributed by Agriculture Secretary Francisco Tiu Laurel Jr. to affected farmers during the visit of President Ferdinand ''Bongbong'' Marcos Jr. to the Bicol Region, in which the latter also led the distribution of aid to affected families.

Tiu Laurel has tasked the PCIC to immediately release indemnification payments to help farmers quickly recover from the disaster brought by Kristine.

“We need to equip our farmers and fisherfolk with financial resources to help them quickly get back on their feet, to recover from this disaster brought about by climate change,” he said in a press statement.

According to PCIC President JB Jovy Bernabe, the distribution of indemnity checks was in line with the "government’s commitment to support the farmers in the countryside by providing insurance protection and financial assistance through indemnities to help farmers recover from setbacks and continue to contribute to the country’s food security and economic growth.”

The PCIC has distributed indemnification checks to 2,644 farmers in the provinces of Albay, Catanduanes, Camarines Norte, Camarines Sur, Masbate and Sorsogon.

Bernabe, meanwhile, ensured that the PCIC would continue to process insurance claims of affected farmers. The initial assessment made by the agency already indicated that the indemnification payments would amount to at least P666.5 million. — Anna Felicia Bajo/RSJ, GMA Integrated News