Professional Insurance Creates Farmer's Policy

Source from:  The Times of Zambia (Ndola) 02/21/2005

PROFESSIONAL Insurance will soon launch a new agriculture incentive for farmers to be called the Farmers Package Policy. Once the Pensions and Insurance Authority (PIA) approves the package, it will benefit farmers in that all their needs will be met in one package. General manager Ventka Balantrapu said yesterday in an interview in Lusaka that agriculture had brought about positive economic growth to Zambia hence, the need to introduce incentives to boost the sector. Mr Balantrapu said it was important for the company to introduce the product in line with Government's policy to promote the sector's growth. He said there was need for farmers in the community to be assisted with insurance cover to avoid risks to their businesses. He said that the sector had grown at a rapid pace in the last couple of years, especially in tobacco production, aided to a large measure by the arrival of Zimbabwean farmers who had invested in the sector. "The Zimbabwean farmers have boosted growth in the sector," Mr Balantrapu said. Last year a number of farmers adopted the concept under the same premium policy. The company was trying to come up with the number of claims that they were going to settle in the last farming season due to hail and wind strikes. Enditem