Business

August 20, 2018

Linkage Assurance gets NAICOM approval to underwrite agric insurance

NAICOM unveils strategic plans to boost public trust

NAICOM

Linkage Assurance Plc has secured the approval of the National Insurance Commission (NAICOM) to underwrite agric insurance.

NAICOM

The approval will enable Linkage support the farmers and service providers in the agricultural value chain for greater sustainability and economic growth.

In a statement from the company, among the products approved include Linkage Assurance Crop Insurance Solutions; Linkage Assurance Farm All Risk lnsurance; Linkage Assurance Farm Motor Insurance; and Linkage Assurance Livestock lnsurance solutions.

The company said that Nigeria’s agribusiness sector needs insurance to remain sustainable and achieve long term growth expectation, adding that stakeholders in the agricultural value chain needs to embrace insurance by reducing retained risk and transferring the burden to insurers for effective risk management.

The Linkage Assurance Crop Insurance Solutions provides cover against unavoidable loss of crops or resulting directly from the insured perils, example flood, drought, excessive rains, hailstorm, diseases and pest, with covers including Weather lndex Crop Insurance; Area Yield – lndex Crop lnsurance and Multi-peril crop insurance.

The Linkage Assurance Farm All Risk lnsurance is designed to cover the farm buildings/contents, farm products and machineries against theft and fire.