NAIC pledges prompt settlement of farmers’claims

In view of the recent flood ravaging farmlands in various parts of the country, the Board and management of Nigerian Agricultural Insurance Corporation (NAIC) has pledged prompt payment of compensation to the victims.
The corporation, over the weekend, made the promise in a statement on the ongoing flood damages to agricultural farms across.
“The board and management of NAIC wish to sympathise and assure its insured farmers and farmer groups, in the various States, being ravished by floods, that the Corporation is very mindful of its corporate responsibility to give them relief and plough them back to prosperity through the prompt payment of appropriate compensations”.
While the Corporation encourages its dear insured farmers to make all efforts possible to avert and minimise the untoward effects of the torrential rains and floods on their farms, the company said “they should promptly inform the nearest NAIC office, in their State, of their travails in order that appropriate support will be extended to them in a timely manner”.
To other farmers who suffered from losses arising from the floods but did not have NAIC cover, the Corporation equally sympathises and encourages them to, in future, take advantage of the agricultural insurance solutions of the Corporation and protect their farms.
Apart from insuring the risk of loss of crops from flood, NAIC provides insurance against crop losses arising from fire, lightening, drought and pests.
Equally, the risks of death of, or injury to, livestock caused by accident, disease, fire, lightening, storm or flood are insured by NAIC.
In accordance with the federal government policies in encouraging farming by Nigerians, the federal government subsidised agricultural insurance premium by 50 percent reimbursable to the Corporation.

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