The insurance rate among farmers and fisherfolk has increased to 33.52% in 2018, hitting a record 2.27 million, the Philippine Crop Insurance Corp. (PCIC) said. In a statement, the company said the number of insured rose from 1.7 million in 2017, and more than twice the 1.09 million in 2016. “The assets covered included for the most part rice, corn and high-value crop farms totaling 1.845 million hectares in 2018, which is 39.04% greater than the 1.327 million insured in 2017,” PCIC said in the statement.

Galang, V. M. P. (2019, May 27). Farm insurance coverage at record 2.27 million in 2018. BusinessWorld, p. S2/7.