CARD Pioneer’s crop insurance: More affordable than a pack of cigarettes

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In a Business Mirror article, reporter Cai Orginario wrote about Binhi Crop Insurance, the first crop insurance offered by a private company in the Philippines. Binhi Crop Insurance was developed by CARD Pioneer Microinsurance Inc. (CPMI) in collaboration with the World Bank’s private-sector arm, the International Finance Corporation (IFC). "Initially, the crop insurance will just be available for CARD Mutually Reinforcing Institutions (CARD MRI) agriculture loan clients. After six months, the crop insurance can be availed by rice and corn farmers who are part of cooperatives and are clients of rural banks and other financial institutions," the article said.  “The product was designed to complement other financial programs available to farmers offered by our partners, like microfinancing, micro savings, risk-reduction practices, etc. It does not seek to replace everything that will be lost, but intends to help the farmer replant again in case damage to crops happens,” President of CPMI Geric Laude was quoted as saying. 
 
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