Leyte 1st District Representative Ferdinand Martin Romualdez is pushing for the approval of House Bill 14, also known as the “Crop Insurance Bill.”
This proposal supports President Ferdinand Marcos Jr.’s goal to expand crop insurance to better protect Filipino farmers.
The bill aims to improve and widen the services of the Philippine Crop Insurance Corporation (PCIC). It also opens the door for private companies to help provide agricultural insurance.
If House Bill 14 becomes a law, PCIC coverage will include not only rice and corn but also high-value crops, animals, fish farming (aquaculture), machines, and post-harvest facilities.
Rep. Romualdez said this proposal supports President Marcos Jr.’s plan to protect farmers and ensure the country’s food supply.
He believes that good insurance will give peace of mind to farmers, especially during typhoons or disasters.
Romualdez added that there must be reforms so small farmers can benefit. Many farmers don’t get insurance because of lack of knowledge, too much paperwork, and slow payment processes.
According to global data from CGIAR (Consortium of International Agricultural Research Centers), over 2.4 million Filipino farmers are still vulnerable to disasters but do not have access to proper insurance protection.