Insurers now unveil policy to take care of calamities

By EMMA MALIN

Pastoralists are set to enjoy the benefits of an insurance product allowing them to secure their livestock against natural calamities.

The announcement was made by a consortium of insurance firms, who are partnering with the Kenya Metrological Department to insure farmers against drought and flooding.

Weather Index Insurance, an agricultural insurance programme, intends to work with experts who will in turn train farmers on drought mitigation.

“The most direct and effective means of raising standards of living and alleviating poverty, hunger and malnutrition is through increasing the productivity and incomes of farmers,” said Ben Kajwang’, Director of College of Insurance.

Under the Weather Index Insurance, the cover will be linked to data collected over time by the weathermen.

“Of course there will be a limit under which we will consider payment depending on rainfall at the time. A farmer will be paid when the rainfall totals over an agreed period are below the threshold that can result in crop loss,” said Kajwang’.

Further losses

Pastoralists will, however, be limited to the number of livestock to keep to prevent them from incurring further losses.

The insurance is expected to help cushion the farmers, who are exposed to calamities of nature that cause financial losses.

Mr Sammy Makove, the CEO of Insurance Regulatory Authority, said he was optimistic farmers would be interested in buying the policy.

“Farmers will welcome this move as they will be the biggest beneficiaries. The insurance will cushion them against effects of adverse weather,” he said. Kenya Meteorological Department, a partner of the programme, said it had upgraded its communication system by providing historical and real time weather and satellite data to establish the mean climatology of area of interest.

Senior Assistant Director David Mburu added it would link farmers and insurance companies in providing basic climate change projections.

“We intend to set stations in every corner of the country to ensure farmers can access climatic data, ” the official added.