- 1. P C IC s u p p o r t s P N o y ss o c ia l c o n t r a c t
Recognizing farms and ruralenterprises as vital to achieving
foodsecurity and more equitable economicgrowth, worthy of
re-investment forsustained productivity (Contract No. 7); Building
capacity and creatingopportunity among the poor and themarginalized
in the country (ContractNo.8)
2. L e g a l B a s is The Philippine Crop Insurance Corporation
(PCIC) was created under P . D . 14 6 7 o n 11 J u n e 19 7 8 . Its
charter was amended by P . D . 17 3 3 o n 2 1 O c t o b e r 19 8 0
and R . A . 8 17 5 o n 2 9 D e c e m b e r 19 9 5 . C o rp o ra te
M a nd a teIts principal mandate is to provide insurance protection
to thecountrys agricultural producers, particularly the
subsistencefarmers, against: Crop losses arising from natural
calamities such as typhoons floods, drought, earthquakes and
volcaniceruptions as well as plant diseases and pestinfestation.
Non-crop agricultural asset losses due to perils for 3. In s u r a
n c eP 1. o ig er a rmps I n s u r a n c e rR c C o2. C o r n C r o
p I n s u r a n c e3. H i g h - V a l u eC o m m e r c ia lC r o p
In s u r a n c e4.N o n -C r o p A g r ic u lt u r a lA s s e t In
s u r a n c e5.L iv e s t o c k In s u r a n c e6. T e r m In s u r
a n c e Agricultural Producers Protection Plan Loan Repayment
Protection Plan Accident and Dismemberment Security Scheme7.F is h
e r ie s In s u r a n c e 4. R ic e a n d C o r n C r o pI n s u r
aagainst losses due to naturalInsurance n c e disasters, pests and
diseases P r e m iu m R a t e ( % o f S u m In s u r e d )P r e m
iu P r e m iuR ic em R a teC ornm R a teFarmer 2.91Farmer
5.65LendingLendingInstitution2.00Institution3.00Government
5.90Governmen t 10.62TO TA L 10 . 8 1 TO TA L19 . 2 7 5. R ic e a n
d C o r n C r o pInA s uurn a on c oe e r ( A C ) - CPI/production
loan per mo t f C vFPB, plus anadditional 20% of CPI, subject to
the following coverceilings:Cover CeilingPer Ha. PALAY In b r e d V
a r ie t ie s Irrigated/RainfedPhp 39,000 Seed ProductionPhp
50,000H y b r id V a r ie t ie s Commercial Prod. (F1)Php 42,000
Seed Production (AxR)Php 65,000C ORN Hybrid VarietiesPhp 40,000
Open-PollinatedPhp 28,000 6. R ic e a n d C o r n C r o pI n s y p
r a nIc se r a n c e C o v e r T u e of n u Multi-Risk Cover
natural disasters as well as pest infestation and plant diseases
Period of Cover Cover seeding disaster Natural Disaster direct
natural or upon transplanting up to harvesting Insurable varieties
all varieties accredited for production by NSIC 7. H i g h -v a l u
eC o m m e r c ia l C r o pI n s abaca, 2)n c e 3) banana, 4)
cabbage, 5) cacao,1) u r a ampalaya,6) carrot, 7) cassava, 8)
coffee, 9) coconut, 10)commercial trees,11) cotton, 12) cucumber,
13) eggplant, 14) garlic, 15)ginger, 16) honey dew, 17) hot pepper,
18) jatropha, 19)lettuce,20) melon, 21) mango, 22) mongo, 23)
onion, 24) oil palm,25) okra, 26) papaya, 27) peanut, 28) patola,
29) pechay,30) radish, 31) snapbeans, 32) sorghum, 33) soybeans,34)
squash, 35) stringbeans, 36) sunflower, 37) sugarcane,38) sweet
corn, 39) sweet potato, 40) tobacco, 41) tomato,42) upo, 43) water
melon, 44) white potato 8. H i g h -v a l u eC o m m e r c ia l C r
o pIn s u r a n c eInsurance against losses due to
naturaldisasters, pests and diseasesP r e m iu m R a t e The
premium rate shall range from 2 % t o 7 % of the total sum insured,
subject to actuarial data and study 9. L iv e s t o c kIn s u r a n
c e An insurance protection for livestock raisers against loss of
carabao, cattle, horse, swine and goat, sheep, poultry and game
fowls and animals due to accidental death or diseases. P r e m iu m
R a t e1. 7 5 10 % , subject to actuarial dataand study 10. L iv e
s t o c kIn s u r a n c eP r e m iu m R a t e ( % o f S u mI n s u
trt ee d ) a r a b a o C a l /CIs la n d b o r n 4.5 to 10Im p o r
t e d 8.0 to 10 S w in eF a tte ne r0.50 per monthB re e de r 3.0
to 8.0 P o u lt r yB r o ile r 1.75 to2.25 H o r s P u l(lD t s /L
a y e ree ra ft) 3.25to 10.005.0 to4.00 G o a t /S h e e p Is la n
d b o r n 6.00 to 12.0% Im p o r t e d 10.0 to 12.0% 11. N o n -C r
o p A g r ic u lt u r a lAInsurancetof Im asc u ir a r n c ,ee q u
i p m e n t ,ssen h n e ie s t r a n s p o r t a t io n f a c ilit
ie s a n d o t h e r r e l a t e d i n f r a s t r u c t u r e s
directly or indirectly used in the pursuit of agricultural
activities including production and processing, marketing, storage
and distribution of goods and services. Damage due to fire and
lightning, flood, typhoon, earthquake and theft P r e m iu m R
Prevailing industry rates a te 12. F is h e r ie s In s u r a n c e
An insurance protection extended to fish farmer/fisherfolk/ grower
against losses in fish and fishery/aquatic products due to natural
calamities and fortuitous events. P r e m iu m R a t e The premium
rate shall depend on the result of the pre-coverage evaluation of
the type, and other factors such as agro-climatic conditions and
terrain, project management factors and production and loss
records. 13. T e r m In s u r a n c eAn insurance protection to
agricultural producers,fisherfolks and other stakeholders :b. A g r
i c u l t u r a l P r o d u c e r s P r o t e c t i o n P l a n-
covers death of the insured due to accident, natural causes,and
murder or assaultc. L o a n R e p a y m e n t P r o t e c t i o n P
l a n -guarantees the payment of the face value or the amount of
theapproved agricultural loan upon the death or total
permanentdisability of the insured borrowerd. A c c i d e n t a n d
D i s m e m b e r m e n t S e c u r i t yS c h e m e - covers death
or dismemberment or disablementof the insured due to accident 14. T
e r m In s u r a n c e A. Agricultural Producers Protection PlanP R
E M IU M S C H E D U L E (Annual Premium in Pesos) PLAN 45 AG E15
T20T25T 30T35T40T 50TTB RAC KETIN D IV ID U A L IN S U R A N C
E
