Almost 3 million Filipino farmers and fishers are set to benefit from the government’s insurance coverage under an expanded budget, the Department of Agriculture (DA) said on Monday.

Under the 2026 General Appropriations Act (GAA), the Philippine Crop Insurance Corp. (PCIC) secured a PHP6.5 billion allocation, a 45 percent increase from last year’s PHP4.5 billion.

With this budget, the PCIC can protect about 2.93 million local farmers and fishers, almost 25 percent higher than the 2.35 million insured food producers in 2025.

“The expanded budget will translate into higher insurance cover for rice and corn and a wider reach for its free insurance program nationwide,” the DA said in a news release.

The maximum payout for total crop loss for rice and corn rose to PHP25,000 per hectare, higher than the previous PHP20,000 indemnity.

Under the PCIC’s multi-peril insurance, total crop loss due to natural calamities, pests, and diseases is covered.

Other products covered by insurance are high-value crops, fisheries and aquaculture, livestock, and non-crop agricultural assets.

The free insurance coverage will also include registered coconut farmers under the National Coconut Farmers Registry System.

At least 714,000 coconut farmers are expected to be insured within the year, with a PHP500 million fund allocation from the Coconut Farmers and Industry Trust Fund.

This is higher than the 640,000 coconut farmers insured in 2025.

Farmers and fishers must be listed in the government’s Registry System for Basic Sectors in Agriculture (RSBSA) to be eligible for the insurance coverage funded under the GAA’s government premium subsidy (GPS).

For 2026, the number of subsidized and non-subsidized insured farmers and fishers is projected to be 3.68 million – up by 12 percent from 3.29 million beneficiaries recorded last year. (PNA)