More than 58,000 Philippine hogs covered under swine fever insurance scheme

Guarantees indemnification of up to US$12.8 million

More than 58,000 Philippine hogs covered under swine fever insurance scheme

Insurance News

By Kenneth Araullo

Around 58,139 backyard-raised hogs in Western Visayas, Philippines, have been guaranteed insurance coverage by the Philippine Crop Insurance Corporation (PCIC) in case they are affected by African swine fever (ASF).

The coverage provides guaranteed indemnification of PHP709 million (US$12.8 million) and has been in place since June of last year until June 2023. PCIC Western Visayas manager Eva Ulie Laud said that the commission has insured 26,913 fatteners owned by 4,556 hog raisers, with a combined risk exposure of PHP270 million (US$4.87 million). Meanwhile, 31,226 breeders owned by 13,652 farmers were covered with an exposure of PHP439 million (US$7.92 million).

However, Laud said in a report from the Philippine News Agency that PCICv has stopped accepting insurance applications because ASF cases have been recorded across all provinces of the region.

“We will no longer accept until such time that the issue on ASF is cleared because we can see that it is spreading fast,” Laud said, adding that biosecurity measures and culling were not observed properly, leading to loss of coverage. As of June 2023, the paid claims have reached PHP26 million for 2,082 animals.

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