DA: PCIC to pay P666.5M indemnity for farmers hit by Kristine

Tropical Depression Kristine could trigger indemnification payments for farmers amounting to at least P666.5 million, according to the Department of Agriculture (DA).

The Philippine Crop Insurance Corp. (PCIC) has already distributed an initial P24.4 million in insurance payments to 2,644 Bicolano farmers affected by Severe Tropical Storm Kristine.

More than half of the affected farms are located in Central Luzon, Bicol Region, and Mimaropa, with damages primarily impacting rice, high-value crops, and fisheries.

Agriculture Secretary Francisco P. Tiu Laurel Jr. instructed the PCIC to expedite insurance claim processing during President Ferdinand Marcos Jr.'s visit to calamity victims in Camarines Sur on Wednesday.

The DA assured immediate release of insurance benefits to farmers, with claims expected to be completed within two weeks and provided PHP541.02 million worth of agricultural inputs for recovery.

Additionally, the total damage from Tropical Depression Kristine and Super Typhoon Leon to the agricultural sector is estimated at P4.8 billion, with Bicol Region suffering losses amounting to about P2.9 billion.