ZSIC GENERAL TO COMPENSATE FARMERS

By PENJANI NZIMA and NOEL IYOMBWA

ZSIC General Insurance says the company is only going to compensate the farmers that are insured by them. This compensation is only applicable to the farmers affected by the current drought.

Responding to the Press Querry from Agri – Coop Newspaper, ZSIC General Insurance acting Managing Director Sylvia Nguluwe emphasized that compensation will only be provided to farmers who had insured their crops with ZSIC General Insurance at the beginning of the season. 

“At the point of taking up insurance cover, the farmer indicates what type of cover they require. Each policy specifies the risks that it covers. Therefore, all those that have taken up policies which included weather-related losses are expected to get compensation,” she assured the farmers.

She stated that the compensation is going to done with the guidance from the company’s claims procedures.

Mrs. Nguluwe stressed that the product is designed in such a way that claims are triggered once particular loss thresholds are reached while for other farmers the process begins with the farmer notifying the company concerning the loss.

“The loss is verified and then compensation made according to the terms of the policy. We have experienced droughts and flooding in the past few farming seasons and so we are ready to pay as soon as we receive official claims, “she said.

Mrs. Nguluwe disclosed that ZSIC general is providing agriculture insurance to 259, 696farmers under the Farmer Input Support Programme (FISP) for the 2023/2024farming season in Muchinga and Eastern province respectively.

She explained that the insurance facility for farmers under FISP is divided into lots or regions by the Ministry of Agriculture. 

“In this season, we are covering farmers in Eastern and Muchinga Provinces only. Farmers under FISP pay for their insurance through the Ministry of Agriculture. Under the FISP, in the two provinces highlighted above, we have provided cover as follows Muchinga 65,153 and Eastern 194,543.

Mrs. Ngulube added that the company further provide insurance services directly to various farmers who are not on FISP and these include both commercial and small –scale.    

She noted that the various agriculture insurance products being provided cover risks that may cause losses or damage on crops, livestock and agricultural equipment. 

Mrs. Nguluwe said the company is utilizing the various platforms to sensitize farmers on the vast benefits of agriculture insurance. 

She stated that this is a combination of both conventional and non-conventional platforms such as radio, television, agricultural shows, trade exhibitions, print and social media.

Mrs. Nguluwe explained that the company has also been part of collaborative field-based sensitization programs with the Ministry of Agriculture through their extension Officers but was quick to mention that more needs to be done to increase awareness.

She has since appealed to the media to highlight insurance benefits to the masses regularly.

“Initiatives like Financial Literacy Week and Insurance Week are part of the industry’s responses to the low insurance uptake, “she said.