An Act Authorizing The Grant Of A Full Crop Insurance Coverage To Qualified Beneficiaries Of The Comprehensive Agrarian Reform Program Amending For The Purpose Section 14 Of Republic Act No. 9700, Otherwise Known As The “Comprehensive Agrarian Reform Program Extension With Reforms”

• Crop insurance is one of the government’s instruments in mitigating agricultural risks and addressing the consequence of calamities on the agricultural sector. As a risk management tool, crop insurance provides two advantages. One, it makes losses more bearable by providing immediate financial support so affected farmers would have better options than waiting for the next planting season or resorting to borrow money at usurious rates. With the sum of money paid, the farmers are able to immediately replant as soon as weather and soil condition permits. Two, it provides a mechanism to mitigate the effects of calamities on crop production, sustaining not only the farmer’s family income, but the country’s food security as well.
• This bill seeks to address this predicament by providing the qualified beneficiaries of the Comprehensive Agrarian Reform Program a full crop insurance coverage. It sustains the policy enshrined in the Comprehensive Agrarian Reform Program which states that the welfare of the landless farmers and farm workers will receive the highest consideration to promote social justice and to move the nation toward sound rural development and industrialization. Ultimately, this bill seeks to contribute in helping every Filipino farmer rise out of poverty.