Insurers of agricultural commodities on Tuesday stated that the percentage of smallholders who have access to agriculture insurance in Nigeria was less than five per cent.
They also stated that these farmers produce over 98 per cent of food consumed across the country, stressing that the latest mandate of most insurance companies was to now insure agro-commodities to avert food scarcity.
The insurance firms and their regulator disclosed this at a workshop for insurers who underwrite agriculture insurance in Nigeria, organised in Abuja by Pula Advisers Nigeria Limited.
Some of the insurance firms that participated at the workshop include Leadway, Veritas Kapital, IGI, AXA, Sterling, JAIZ, Royal Exchange, NEM, AIICO, NAICOM, among others.
Speaking to journalists on the side-lines of the workshop, the Head, Agric Insurance, AIICO Insurance. Read more….. https://punchng.com/only-5-farmers-access-agric-insurance-insurers/