The participating local government units (LGUs) of the insurance program benefitting farmers and fisherfolks will now be unburdened of the 10 percent counterpart of the insurance premium.
Cebu Gov. Hilario P. Davide III has already approved the proposal relieving the LGUs from paying their counterpart for the premium cost of farmers’ and fisherfolks’ insurance.
The Cebu Provincial Government will now handle the one hundred percent insurance premium of the Special Comprehensive Insurance Program for Agri-Fishery Projects and Stakeholders of the Province of Cebu.
The Provincial Board has also authorized the governor to enter into a new Memorandum of Agreement (MOA) with Philippine Crop Insurance Corporation (PCIC).
The MOA for the implementation of a special, comprehensive insurance program for agri-fishery projects or programs of the Province of Cebu was first entered into on April 12, 2011 between the provincial government and PCIC.
The implementing guidelines of the said insurance program provided that one of the responsibilities of the participating LGUs is to share at least 10 percent of the total premium cost.
The Office of the Provincial Agriculturist made the proposition to the Governor to forego the LGU counterpart.
Roldan Saragena, Provincial Agriculturist, said that some LGUs expressed their difficulty in sourcing out funds for the 10 percent counterpart. He also said that in view of the recent calamities that struck Cebu province, some municipalities and component cities who have limited budget failed to pay their share.
Saragena said that this positive development will be very beneficial to the marginalized farmers and fisherfolks. This will make the insurance program more accessible to them, he added.
PCIC has released more than P 2 million as indemnity claims for damaged corn due to typhoon Yolanda, benefitting 811 farmers.
Saragena said that in foregoing the 10 percent LGU counterpart provision of the premium cost, the provincial government is poised to attain food security, the thrust of the current administration.
Agriculture is a priority development agenda of the governor.