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Farmers embrace agricultural insurance to shield investments from climate risks
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BizWatchNigeria.Ng
The insurer says demand is rising as farmers seek protection against floods, drought, diseases and other production risks.
He also dismissed the perception that insurers fail to honour genuine claims, saying verified agricultural insurance claims are paid within one week after field assessments and completion of documentation.
“Agricultural insurance helps to de-risk farmers’ investments and provides compensation when unforeseen losses occur.”
What’s nextGuinea Insurance plans to deepen awareness campaigns through agritech partnerships and rural engagement programmes to increase agricultural insurance adoption, while expanding coverage across the agricultural value chain.
Bottom lineAs climate and production risks intensify, agricultural insurance is becoming an increasingly important tool for protecting farmers’ investments, improving resilience and supporting sustainable agricultural production.