Agriculture Insurance Solutions:
Agriculture is inherently risky, so our agricultural insurance is designed to provide comprehensive protection for the risk exposures of the farmers and agribusiness enterprises.
Our products include :
Policy Sections
Poultry Insurance Policy cover birds (broilers, layers, parent stock, grandparents’ stock, hatchery stock, cockerel ) against death because of fire, lightning, windstorm damage, flood, uncontrollable disease, and accident.
The premium rate is dependent on the standard of risk management, biosecurity, size of the farm, and the type of birds to be insured. The sum insured is based on the declared market value of the broiler at table size, and layers at the point of lay. Physical inspection/pre-loss survey of the farm is compulsory.
Our Livestock Insurance Policy provides cover for loss or death to farm animals as a result of the following: Accident (including fire, lightning, flood, cyclone, famine, strike, and riot), Illness and Disease.
The farm animals are cattle, sheep, goats, rabbits, and pigs. The coverage provided under this policy indemnifies the insured farmer/farm based on the value of insured animals in the event of death.
The sum insured is dependent on the declared, and/or projected market value of the animal. Physical inspection/pre-loss survey of the farm is mandatory and a standard farm management record.
The Fish Farm Insurance policy provides coverage on farmed fish and fishponds against death due to fire, lightning, windstorm damage, flood, uncontrollable disease, and accident.
The policy also covers fishpond due to the forces of nature.
The sum insured is based on the declared, and/or projected market value of the fish. The premium rate is dependent on the standard of risk management, biosecurity, size of the farm, and the type of fish to be insured.
We must carry out a physical inspection/pre-loss survey of the fish farm.
This policy provides cover against loss or damage to farm property (e.g., warehouse and farm equipment) and agricultural produce because of fire, burglary/housebreaking, lightning, flood, windstorm, explosion, aircraft, earthquake, and impact risks. The policy also covers damage or theft of farm implements and other farm items against the following perils:
The following pre-loss activities must be carried out:
- Physical inspection/pre-loss survey of the items to be insured.
- Inventory of items to be insured.
- Completion of our proposal form.
The sections of the policy include:
- Fire & Burglary
- Farm Plant and Machinery All Risks Insurance
- Goods in Transit: The insured farm produce (including livestock), farm implements, and other farms are covered against loss or damage by any accident while in transit or while loading onto or unloading from the conveyance or while temporarily housed in the ordinary course of transit.
Our Multi-Perils Crop Insurance provides coverage to the insured farm against loss or damage to crops caused by fire, lightning, explosion, aircraft damage, windstorm, flood, and uncontrollable pest and disease outbreaks.
The coverage provided by this policy will pay for the production costs of crops that have been lost or damaged during the period from planting up to the maturity of the crop.
The Area Yield Index Insurance policy provides cover to the insured farm/farmer against drought, excessive rainfall, windstorm, frost, uncontrollable plant disease and pest, excessive heat wave, hail and flood.
The pay-out is based on the agro-ecological zones of the farmers. (e.g., local government areas, states within the same agro-ecological zones).
It is imperative to have the following risk information details for Area Yield Index Insurance: the name, location (address) of the farm, type of crop, number of hectares, sum insured (per hectare), size of each farm, farming period/planting calendar, farm gate price as validated by relevant agencies, expected guarantee yield level, and other relevant information.
