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Opportunities for Strengthening Agriculture Insurance Programs: Philippine Crop Insurance Corporation and LGU Partnerships

Author

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  • Reyes, Celia M.
  • Mina, Christian D.
  • Agbon, Adrian D.
  • Gloria, Reneli Ann B.

Abstract

Providing agricultural insurance to farmers and fisherfolk in the Philippines has been implemented for nearly three decades. While it is agreed that agricultural insurance is crucial in assisting farmers, fisherfolk, and governments in lessening the negative financial impact of natural events, issues of providing premium subsidies and being tied to credit in the Philippines remain to be important policy issues. This paper reviews available information about partnerships between local government units (LGUs) and the Philippine Crop Insurance Corporation. The aim is to look at these innovations that may promote and enhance agricultural insurance in the Philippines. Providing for full premium subsidies and as a form of loan to the farmers was implemented by the LGUs reviewed in this paper. Further study is needed to determine which scheme works best in terms of increasing coverage over the long term and ensuring financial viability.

Suggested Citation

  • Reyes, Celia M. & Mina, Christian D. & Agbon, Adrian D. & Gloria, Reneli Ann B., 2017. "Opportunities for Strengthening Agriculture Insurance Programs: Philippine Crop Insurance Corporation and LGU Partnerships," Discussion Papers DP 2017-01, Philippine Institute for Development Studies.
    • Handle: RePEc:phd:dpaper:dp_2017-01
    DOI: https://doi.org/10.62986/dp2017.01
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    References listed on IDEAS

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    1. Shawn Cole & Xavier Giné & James Vickery, 2017. "How Does Risk Management Influence Production Decisions? Evidence from a Field Experiment," The Review of Financial Studies, Society for Financial Studies, vol. 30(6), pages 1935-1970.
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