HB06923: STRENGTHENING THE PHILIPPINE CROP INSURANCE CORPORATION
This bill aims to strengthen the Philippine Crop Insurance Corporation (PCIC) by expanding its mandate and coverage to provide better insurance protection to farmers against losses from natural calamities, plant diseases, and pest infestations.
The expanded purposes and coverage of the PCIC include the insurance of various crops, livestock, and fishery products, as well as the provision of life and accident term insurance coverage for farmers and fisherfolk. This provision will help farmers manage risks, secure loans, and continue production, ultimately contributing to food security and the agricultural economy's growth.