This cover protects against loss of or damage to crops or livestock. It has great potential to provide value to low-income farmers and their communities, both by protecting farmers when shocks occur and by encouraging greater investment in crops and livestock.
Policyholders are compensated on the basis of the actual loss sustained. Following the occurrence of an insured event, an insurance expertise (appraisal) is undertaken in order to determine the causes behind the loss and to assess the amount of compensation to be disbursed.
Crop Insurance is purchased by agricultural producers, including farmers, ranchers and others to protect against either the loss of their crops due to natural disasters, or the loss of revenue due to declines in the prices of agricultural commodities.
Crop insurance covers losses, including lower yields, caused by natural events, such as:
• Destructive weather (hail, frost, damaging wind)
• Disease
• Drought
• Fire
• Flooding
• Insect damage
Livestock Insurance offers you a comprehensive cover for all livestock types against untimely death. The death risk covered could be caused by fire and related Perils, birth complications, accidents, epidemics like uncontrollable diseases or emergency slaughter due to livestock medical defects.
This cover is open to livestock types like Dairy, Beef, Sheep, Goat, Rabbits, Poultry, Pigs, and Fish. The cover is specific to various livestock types with varying premium rates, waiting periods and cover limits depending on livestock population, rearing methodology, and previous experience of the prospective policy holder.