Insurance coverage for livestock, fisheries pressed as Taal agri damage exceeds P3B | Inquirer News

Insurance coverage for livestock, fisheries pressed as Taal agri damage exceeds P3B

/ 09:10 AM January 30, 2020

MANILA, Philippines — As agricultural losses due to the recent eruption of Taal Volcano breached the P3 billion mark, Senator Grace Poe is pushing for insurance coverage for fisheries, livestock and poultry sectors to farmers and fishermen from calamities.

Taal damage to agriculture hits P3B


In a statement on Thursday, Poe pushed for the passage of Senate Bill No. 866 which seeks to protect the fisheries, livestock and poultry sectors “from the immediate impact of natural disasters.”


Poe said fisheries, livestock and poultry sectors serve as major contributors to the economy and food security.

“However, all of the sectors identified above are vulnerable to climate change and severe-weather based calamities,” Poe said.

“Insurance coverage will guarantee that during times of unforeseen events, farmers will not be holding an empty bag,” she added.

The bill seeks to expand the coverage of the Philippine Crop Insurance Corporation (PCIC) so that it would also institutionalize the insurance coverage for livestock, poultry and related equipment, as well as unharvested fisheries stock, and inland fishponds, fish cages, fish pens, and fishing boats.

The bill also includes crop insurance coverage for the cost of production inputs, the value of the fisherfolk’s own labor and those of the members of his household, including the value of the labor of hired workers.


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TAGS: agricultural losses, Fisheries, Insurance, Livestock, Nation, News, Senator Grace Poe, Taal Volcano eruption
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