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FREE INSURANCE
The RSBSA Agricultural Insurance Program (RSBSA-AIP) is an insurance program for all
subsistence farmers and fisherfolk listed in the RSBSA.
The National Government appropriated to the Philippine Crop Insurance Corporation
Php1.3 billion premium subsidy fund, pursuant to FY 2015 General Appropriation Act (GAA),
RA 10651, to be used exclusively for the full (100%) cost of insurance premiums of subsistence
farmers and fisherfolk listed in the RSBSA.
PREMIUM RATE
The standard premium rates in the region/province shall apply.
Self-Financed Farmer:
Rice and corn Insurance Programs: Maximum of P20,000 per hectare.
Other Insurance Programs: Amount of cover, computed in accordance with guidelines
and procedures, subject to limits of coverage per farmer/fisherfolk as specified below.
Fisheries:
Aquaculture Projects:
Inland fishpond – maximum of 500 meters;
Mariculture parks/off shore (fishcage/fishpen) – maximum of 400 square meter;
Seaweed farm – maximum of 500 square meter
Livestock:
Poultry house/pigpen/stable used for housing the allowed number of livestock
and poultry heads mentioned above.
Farming Machinery/Equipment:
Maximum of three (3) agricultural equipment/ machines used in farming
operations
PROCEDURE TO AVAIL
Borrowing Farmer
1. Farmer/Farmer group submits loan application for Agricultural and Fishery Financing
Program (AFFP) to Land Bank of the Philippines (LBP) or Peoples Credit Financing
Corporation (PCFC) or other lending conduits, together with the following crop insurance
documents:
List of Borrowers (LOB)
Consolidated Farm Information (CFI)
Standard Farm Plan and Budget (SFPB)
Group Deed of Assignment (GDA)
2. Municipal Agriculturist certifies that proposed borrowers are not covered by similar
subsidized program under the local government.
3. Upon approval/release of loan, LBP/PCFC/Rural Bank (RB)/ Non-Government
Organization (NGO)/other Lending Institution (LI) issues the covering Certificate of
Cover (CIC) to service conduit/farmer organization.
4. LBP/PCFC/NGO/RB/other LI submits to PCIC the crop insurance documents listed in
procedure number 1 above not later than 15 days from date of CIC issuance together
with the covering CIC.
Self-Financed Farmer
1. Farmer/Farmer group files application for insurance directly at the PCIC Regional Office
or Extension Office, Office of the Municipal Agriculturist (OMA) or accredited PCIC
underwriters. The group application scheme is preferred and groupings may either be
by barangay/irrigators’ association/ cooperative or other farmers’ organization.
2. OMA or accredited underwriter submits insurance applications to PCIC Regional Office
or Extension Office within 15 days from receipt of applications.
3. Farmer/Farmer group accomplishes the prescribed Crop Insurance Application
documents with the assistance of PCIC Insurance Processor and the Agricultural
Technologist (AT) or designated focal person.
4. PCIC processes application and issues covering policy/(CIC).
5. PCIC furnishes the OMA or accredited underwriter with the original copy of CIC together
with the List of Farmers Insured.
6. PCIC informs the OMA or accredited underwriters of the disapproved applications.
In case of deviation in the information reflected in the List of Borrowers earlier submitted,
the insured farmer must report to PCIC regional or extension offices within 10 days from the
date of actual planting the following changes:
Change in direct seeding/planting schedules
Change in method of planting
Change in seed variety
Change in location/area of farm planted
Change in size of farm planted
In case of loss/damage, the insured farmer or nearest of kin shall perform the following
procedures:
File NL within ten (10) days before expected harvest in case of drought, plant pest and
diseases.
High Value Crops
File the NL within 10 days from occurrence of loss, or in case of perils affecting crops
and, or fruits of crops which are highly perishable in nature, such as blowdown in
bananas, etc., NL shall be filed within seventy-two (72) hours from the time of
occurrence
Livestock, NCI
File the NL within 10 days after occurrence of loss. In case of abnormally big number
of deaths, inform PCIC within twenty-four (24) hours from the death of the animals.
Fisheries
File the NL within two (2) days from occurrence of loss.
The CI, when filed within ten (10) calendar days (rice, corn, high value crops and
livestock) and within 7 days (fisheries) from occurrence of loss, shall serve as NL.
The existing PCIC policies and procedures on claims adjustment and settlement shall
apply on all claims filed.
PERIOD OF IMPLEMENTATION