Philippines’ PCIC forges alliance with CMPI to help small farmers
This tie-up will enable farmers to gain greater access to more agricultural insurance.
The Philippines’ state-run agricultural insurer, Philippine Crop Insurance Corp. (PCIC), has teamed up with CARD Pioneer Microinsurance Inc. (CMPI) to help provide small farmers greater access to insurance products.
Through the partnership, CMPI will be able to provide insurance protection for small farmers against natural calamities, plant diseases and pest infestations.
This initiative is backed by the Asian Development Bank through its Financial Inclusion Framework Strengthening technical assistance project.
According to CMPI, the initiative is the first public-private partnership in the Philippines aimed to close the insurance gap and contribute to the sustainable development of agricultural insurance in the country.