Nearly three million Filipino farmers and fishers are poised to benefit from expanded government insurance coverage following a significant budget increase, the Department of Agriculture (DA) announced Monday.
Under the 2026 General Appropriations Act (GAA), the Philippine Crop Insurance Corp. (PCIC) received P6.5 billion in funding, marking a 45 percent jump from the P4.5 billion allocation recorded a year earlier.
The higher budget will allow the PCIC to insure an estimated 2.93 million farmers and fishers nationwide, nearly 25 percent more than the 2.35 million food producers covered in 2025.
“The expanded budget will translate into higher insurance cover for rice and corn and a wider reach for its free insurance program nationwide,” the DA said in a news release.
Insurance benefits were also enhanced, with the maximum indemnity for total crop loss in rice and corn increased to P25,000 per hectare from the previous P20,000 ceiling.
Through the PCIC’s multi-peril insurance program, farmers are protected against total crop losses resulting from natural disasters, pest infestations, and plant diseases.
Insurance coverage likewise extends to other agricultural products, including high-value crops, fisheries and aquaculture, livestock, and various non-crop farm assets.
The free insurance program will also be expanded to cover registered coconut farmers listed under the National Coconut Farmers Registry System.
Within the year, around 714,000 coconut farmers are expected to receive coverage, supported by a P500 million allocation from the Coconut Farmers and Industry Trust Fund.
This figure exceeds the 640,000 coconut farmers who were insured in 2025.
To qualify for insurance coverage funded through the GAA’s government premium subsidy (GPS), farmers and fishers must be enrolled in the government’s Registry System for Basic Sectors in Agriculture (RSBSA).
For 2026, the total number of insured farmers and fishers—both subsidized and non-subsidized—is projected to reach 3.68 million, representing a 12 percent increase from the 3.29 million beneficiaries recorded last year.
