Monday 23 September
Powered by Ajaxy
Aug 20, 2019 @ 10:04

Pangilinan wants to make insurance mandatory for palay, other crops

Senator Francis “Kiko” Pangilinan seeks to make insurance mandatory for palay and other crops essential to food security to help farmers survive crop destruction due to calamities.

This, as he filed Senate Bill 35, or the proposed Expanded Crop Insurance Act of 2019, which seeks to amend existing laws which previously require crop insurance only of farmers who avail themselves of production loans.

“Filipinos can’t live without rice. But our rice farmers become more heavily indebted and impoverished after every disaster. A way to save them is for them to have crop insurance. This is one of our proposals to uplift the lives of those who feed us,” Panglinan said.

The proposed amendment to Section 4 of Presidential Decree No. 1467 as amended by Republic Act 8175, or the Revised Charter of the Philippine Crop Insurance Corp. (PCIC) Act of 1995, on insurance coverage includes the participation in the insurance for palay and other crops determined to be essential for food security shall be compulsory upon all farmers.

It also provides that in case farmers are financially incapable, the National Food Authority (NFA) shall secure crop insurance for them and that the NFA shall secure crop insurance for them.

The NFA shall pay for the insurance premium and shall become at least a 50 percent beneficiary of the insurance proceeds or claim for all other crops.

The bill also provides that within 60 days of the law, the Secretary of the Department of Agriculture, administrator of NFA, and president of Philippine Crop Insurance Corp. (PCIC) shall be constituted into committee with a mandate to draft the implementing rules and regulations.



 

Trending News

Recommended on sister sites

Copyright © 2019 Food Evolution - foodevolution.com.ph. TechCellar.com