CEJ calls for timely compensation of farmers on Weather Index Insurance

• Farmers are waiting for a clear roadmap from companies providing Weather Index Insurance.
• There is a delay in service delivery when it comes to compensations of inputs and other products that fall under this service.
• Farmers under FISP contribute K100 towards this insurance product.

Centre for Environment Justice (CEJ) has called on insurance companies in the country to timely compensate farmers registered on the Weather Index Insurance.
Centre Head of Research Freeman Mubanga told Money FM News that farmers especially in Southern Province, which recorded erratic rainfall, are waiting for a clear roadmap from companies providing Weather Index Insurance on how they will compensate them.
Mr. Mubanga said some farmers will find it challenging to adopt the Weather Index Insurance innovation if insurance companies are not proactive in compensating them timely because those under the Farmer Input Support Program (FISP) contribute K100 towards this insurance product.
“CEJ has noticed that there is a delay in service delivery when it comes to compensations of inputs and other products that fall under this service. Therefore we are urging all insurance companies that are offering such insurance products to farmers that they should harness their service delivery to ensure that more farmers can understand that learn from farmers that are registered on this brilliant initiative,” Mr. Mubanga advised.
He however stated that companies providing Weather Index Insurance must be commended as the move is a mitigation measure against the effects of climate change.
Weather Index Insurance is an innovative approach to managing climate related risks using a pre-defined index, such as rainfall, to determine pay-outs which help smallholder farmers to recover their investment losses resulting from weather related events.

More From Author

World Bank urges Zambia to capture other benefits beyond mining sector

• World Bank is committed to supporting African countries to translate Africa’s mineral wealth into…

Read More

Kwacha gains should benefit consumers – BuyZed

• This is to ensure that consumers begin to enjoy what is produced locally.• Manufactures…

Read More

SEC attributes decline in Q4 bond trades to delayed debt restructuring process

• One of the challenges is to do with the delays in finalizing the debt…

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

July inflation surges to 15.4 %, as Zambia records K1.4 billion trade Surplus

On average, prices of goods and services increased by 15.4 percent between July 2023 and…

Read More

ZDA implores investors to invest in Zambia’s tourism sector

Having the right tourism infrastructure is key to unlocking Zambia’s tourism sector. ZDA facilitates both…

Read More

TI-Z implores LEAs to provide quantitative reports on illicit financial transactions

• The public is interested in evaluating the efficiency of Law Enforcement Agencies in taking…

Read More