Tiu Laurel cited the report of PCIC president JB Jovy Bernabe who said that the rapid assessment on insured farms affected by Kristine from Oct. 22 to 25 covered 10 regions in the country, with more than half coming from Central Luzon, the Bicol region and Mimaropa.
Bernabe said the insurance payments include P413.5 million for rice, P167.9 million for high-value crops and P27.7 million for fisheries.
"We have set aside an initial amount of P667 million for insurance payments to around 86,066 farmers," Bernabe said.
The DA operations center said that the damage from Kristine has reached P5.75 billion, with 74 percent or P4.25 billion from rice, P847.48 million from high-value crops and P446.22 million from fisheries.
At the same time, Tiu Laurel asked the PCIC to expedite the processing of insurance claims and to provide all possible assistance to help farmers quickly recover from the disaster.
Tiu Laurel also instructed the PCIC to prepare for potential damage that might be inflicted on the agriculture sector by Super Typhoon Leon.
This story is from the November 04, 2024 edition of The Philippine Star.
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This story is from the November 04, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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