New insurance product for copra farmers
May 19, 2018 4:35 am
A new micro-insurance product for farmers supplying copra to Copra Millers Fiji has been launched in Savusavu.
Launching the product, Minister for Agriculture Inia Seruiratu says the bundled insurance package is about resilience and preparing for the future better.
The first in the Pacific, the bundled micro-insurance scheme has an annual combined cover of $10, 000 per person – with an annual premium of $52.
It covers funeral expenses of $1,000 accident cover of $3,000 and fire cover of $3,000 as well.
Copra Millers Fiji Board Chairman Raj Sharma says the package will be rolled out to the 200 farmers who supply Copra to them.
He announced this morning that Copra Millers will be paying the farmers premiums for this year and next year the farmers can start paying their own.
The scheme has been rolled out to cane farmers and dairy farmers and will be rolled out to rice farmers as well.
The product is being dished out by Fiji Care with the Pacific Financial Inclusion Programme as its partner.