President Ferdinand R. Marcos Jr. has transferred the Philippine Crop Insurance Corp. (PCIC) to the Department of Agriculture (DA).
According to a news release from the Presidential Communications Office on Saturday, Marcos issued Executive Order (EO) 60 dated May 13, placing the PCIC under the DA’s control to make it more responsive to the needs of small farmers, fisherfolk, and other agricultural stakeholders.
“A strong organizational link between the PCIC and DA is necessary to enhance agricultural insurance protection program highly responsive to the needs of small farmers and fisherfolk and other agricultural stakeholders, with policies and programs aimed at ensuring food security and modernization of the agricultural sector,” he said in the executive order.
The PCIC is a government-owned or -controlled corporation (GOCC) tasked to provide insurance protection to farmers against losses arising from natural disasters, plant diseases, and pest infestation.
EO 60 reorganizes the PCIC Board to include the respective presidents of the Land Bank of the Philippines and PCIC; the executive director of the Agricultural Credit Policy Council; and a representative of the private insurance industry appointed by the President upon nomination by the Secretary of Finance.
The board shall also include three representatives of the subsistence farmers’ sector, preferably representing agrarian reform beneficiaries, cooperatives or associations from Luzon, the Visayas, and Mindanao, appointed by the President upon their nomination by different farmer organizations and/or cooperatives.
The appointment or designation of the chairperson, vice chairperson, and other officers of the board of directors shall be in accordance with Republic Act 10149, or the GOCC Governance Act of 2011.
The Administrative Code of 1987 mandates the DA to promote the country’s agricultural development by providing policy framework, public investments, and support services necessary for the advancement of the agricultural sector.