Physical loss or damage to growing crops directly caused by, drought, uncontrolled pests and diseases, hailstone damage, flooding of the crop field, explosions & lightning, windstorms and fire, below are the products in this sector
Weather Index Insurance (WII)
This is a relatively new tool that farmers use to manage risk. Weather index insurance provides cover against excessive rainfall and drought. Crops covered here include most of the monocotyledon crops like wheat and maize, di-cotyledon crops and perennial crops
The Insurance shall cover losses of chickens during the period of insurance arising out death due to accident, fire, lightning, windstorm or uncontrollable diseases.
It provides greenhouse structures with coverage against natural perils, plants against frost and debris from damaged greenhouse structures, and equipment against machinery breakdown or fire, as well as certain aspects of business interruption
The policy indemnifies the insured in the event of mortality of the livestock by death or emergency slaughter on medical grounds resulting from the insured perils such as accident, disease and windstorm. The cover can be e tended to cover theft of animals, transit risks and calving/furrowing risks
Direct losses to Standing Timber grown and specified in the Valuation Chart due to Fire, lightning and explosion. Maximum indemnification is the Timber Value
It provides coverage for on-shore and off-shore fish production against losses from natural perils, diseases, algae bloom or predators