IGI Develops Products To Insure Farmers Against Losses

Mr Olusina Elusakin, the Executive Director, Special Risks at Industrial and General Insurance (IGI), yesterday said the company had developed new agricultural products to minimise farmers’ losses to disaster.

He said that the new products would reduce financial risks in farming and boost confidence of farmers, apart from protecting the sector against economic and natural ruin.

Elusakin told news men in Lagos that the new insurance products would also boost agricultural production by encouraging farmers to venture into large-scale mechanised farming.

According to him, the new products would enable farmers to have a new lease of life in financial support.

He said that the products included IGI Multiplier Crop Insurance, Plantation Fire Insurance, Bloodstock/Livestock Insurance, Poultry Insurance and Fishery/Fish Farm Insurance.

“The new agricultural insurance products will boost agricultural production by encouraging farmers to venture with confidence into large-scale mechanised farming.

“The products are insurance peculiar to farmers. Farming is a very risky business, but we will guarantee farmers peace of mind.