Following the excessive rainfall and Red Trigger Alert declared in Davao del Norte on June 3rd, 2024, we are pleased to announce that payouts are being distributed to support our valued cooperative partners and their farmer-members. This timely assistance underscores our commitment to providing crucial support during challenging times.
Delivering on our promise: Weather Protect Insurance payouts in action!
We’re proud to present claim checks to our valued Cooperatives affected by recent extreme weather events. This moment exemplifies the power of parametric insurance in the Philippines, offering swift financial support when it’s needed most.
Weather Protect Insurance, our innovative climate insurance product, demonstrates how we’re building resilience in the face of climate change. By covering excess rainfall and high wind speeds, we’re helping our cooperative members bounce back quickly from weather-related setbacks. The beauty of parametric insurance? Lightning-fast, hassle-free claims processing. No lengthy assessments needed – when predetermined weather thresholds are met, payouts are triggered automatically.
The cooperatives and their farmer-members receiving payouts include:
- United Laborers Multi-Purpose Cooperative
- Laak Multi-Purpose Cooperative
- Panabo Multipurpose Cooperative
- Nabunturan Integrated Cooperative (NICO)
- Agdao Multipurpose Cooperative
- NIA Saug Employees and Irrigators Multipurpose Cooperative
- Unified Employees Multi-Purpose Cooperative
- MAGSIGE Multi-Purpose Cooperative
- MADECO Multi-Purpose Cooperative
- CLIFSA and their farmer-members
- Kooperatiba ng Sto. Tomas Multi-Purpose Cooperative
These payouts are a testament to the resilience and solidarity of our cooperative network. At WPI, we understand the severe impact that natural disasters can have on communities, and we are dedicated to providing the necessary financial support to help our cooperative partners and their farmer-members recover and rebuild.
The Red Trigger Alert in Davao del Norte highlighted the vulnerability of our agricultural and cooperative sectors to extreme weather conditions. By ensuring timely payouts, we aim to alleviate some of the immediate burdens faced by our partners and their farmer-members and facilitate a quicker return to normal operations.
Our commitment to supporting our cooperative partners and their farmer-members during challenging times is unwavering. Through our Weather Protect Insurance (WPI) program, we are continually enhancing our support mechanisms to better serve our communities in the face of climatic adversities. This initiative is part of our broader mission to build resilient and sustainable cooperative networks that can withstand and adapt to environmental challenges.
At CLIMBS, we’re committed to standing by our farmers through thick and thin. This payout is more than just financial assistance; it’s a testament to the trust our members place in us and the security that smart climate risk management can provide.
We are proud to stand with our cooperative partners and their farmer-members in Davao del Norte and remain steadfast in our mission to support them through every challenge. Together, we are building stronger, more resilient communities capable of thriving despite the uncertainties posed by climate change.
Embrace the future of agricultural protection with parametric insurance. Together, we’re cultivating resilience and ensuring a sustainable future for Philippine agriculture.
#WPISupport #CooperativeStrength #ClimateResilience #DavaoDelNorte #CooperativeSupport #WeatherProtectInsurance
