PCIC head wants 25-year charter extension

PHILIPPINE Crop Insurance Corp. (PCIC) president Jovy Bernabe will push for an extension of the agency's charter, which will expire in 2028.

He intends to do this after the election of a new Congress this year.

The PCIC, an attached agency of the Department of Agriculture, was created in 1978 by then-president Ferdinand Marcos Sr. through Presidential Decree 1467 with a 50-year term.

Its principal mandate is to provide insurance protection to farmers against losses arising from natural calamities, plant diseases and pest infestations of their palay and corn crops, as well as other crops.

As for amendments in the PCIC charter, Bernabe said he just wants to simplify the process by first seeking an extension of its corporate life. He believes its current charter, ratified by Republic Act 8175, or the Revised Charter of the PCIC Act of 1995, has a sufficient mandate.

"The changes we want to implement can be [done] without changing the charter," Bernabe said, pointing out that the authority and powers of the board are adequate. "Kung gusto namin maging (If we want to become) a reinsurance [agency] we can do that through board action."

Bernabe said he is aiming for a charter extension of 25 years.

The PCIC also provides protection against damage to/loss of non-crop agricultural assets, including but not limited to machineries, equipment, transport facilities and other related infrastructures.

Its vision says that, by 2028, it will be a sustainable, technology-driven agricultural insurance provider for Filipino farmers and fisherfolk that provides value for money and fosters resiliency.