Thursday
March 3
2016

Kenyan Government-backed Insurance to Cushion Farmers Against Poor Harvests

Farmers are set to benefit from a government-backed insurance plan with seven underwriters offering a cover against poor yields.

The product will see the government pay 50 per cent of the premiums and will be underwritten by APA, Amaco, CIC, Heritage, Jubilee, Kenya Orient and UAP.

Farmers who lose more than 20 per cent of their produce as a result of adverse climatic conditions, disease or damage by insects can benefit from the schemes.

“Smallholder farmers are the backbone of our agricultural production. However, in recent years, they have had to bear huge risk that comes with effects of climate change,” said APA Group chief executive Ashok Shah.

Source: allAfrica (link opens in a new window)

Categories
Agriculture
Tags
agribusiness, agriculture, farmers, government, insurance, smallholder farmers