Iloilo city: The Philippine Crop Insurance Corp. (PCIC) has disbursed over PHP501 million in indemnity claims to 125,949 farmers from Western Visayas and Negros Occidental, covering the period from January to the end of July this year.

According to Philippines News Agency, Alicia Arnaldo, the officer-in-charge for the Regional Manager of the PCIC Office in Western Visayas, reported that PHP242.19 million was allocated to farmers who suffered losses due to pests associated with drought. Additionally, PHP87.68 million was distributed for damages from floods and typhoons, while PHP91.94 million was earmarked for drought-related claims, and PHP57.53 million for diseases.

Arnaldo highlighted that a substantial portion of the claims, PHP154.46 million, was directed towards rice (palay) farmers, benefiting 39,988 individuals. The claims accounted for 76,704 notices of loss (NL) in the last quarter of 2024 and involved 49,245 farmers from January to July 31 this year.

The majority of the claimants are registered under the Registry System for Basic Sectors in Agriculture (RSBSA), with their premiums fully covered by PCIC. Arnaldo encourages farmers to stay informed about the program by visiting their municipal agriculture offices. She emphasized the importance of having a safety net and advised farmers to adopt best farming practices, while noting that PCIC’s role is to provide compensation in cases of losses.

As of Tuesday, over PHP15.79 million is ready for distribution to cover 4,105 NLs. PCIC is also accepting notices of loss from farmers impacted by tropical cyclones Crising, Dante, and Emong, as well as the southwest monsoon, until August 14. Adjusters have been dispatched to the northern part of Iloilo to assess the losses incurred by fisherfolk due to adverse weather conditions.

Arnaldo expressed hope that by the last week of August, the PCIC would be able to settle the adjusted notices of loss.