Friday, January 20, 2012

Uganda lacks active crop insurance

Joseph Miti in via the Monitor (Uganda): Farmers will have to incur more losses caused by climate related conditions since there is no active insurance scheme for the agricultural sector, a new study has revealed.

The feasibility of agricultural insurance report, released on Monday, also indicates that there is no active private sector player offering crop insurance in the country. "This is partly due to a lack of technical expertise and distribution capacity of insurers to develop and service agricultural insurance," Mr John Ariko, a consultant with Friends Consult limited - a firm that conducted the study said.

The study was commissioned by the Uganda Co-operative Alliance (UCA) to explore the feasibility of agricultural insurance with specific emphasis on weather index insurance (WII) as an alternative risk management approach for farmers.

According to the report, carried out in Eastern and Northern Uganda -areas more vulnerable to hydro-meteorological risks, 53 per cent of what farmers may have obtained is lost in fields due to climatic related conditions....

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