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Philippines: Crop insurer estimates losses from Typhoon Haiyan at $6.8 million

December 16, 2013 - 6:00am

Norman R. Cajucom, senior vice-president of the Philippine Crop Insurance Corp., said insured agricultural losses from damages caused by Typhoon Haiyan is estimated at 300 million Philippine pesos ($6.8 million), BusinessWorld reported.

Mr. Cajucom said the PCIC has "reinsurance facility as one of its risk management measures."

He said the National Reinsurance Corp. of the Philippines is the reinsurer for high-value crops, nonlife assets and livestock.

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