Agriculture Insurance

Poultry Farm Insurance

This product covers birds (broilers, layers, parent stock, grandparents stock, hatchery stock, cockerel, ornamental birds) against death as a result of fire, lightning, windstorm damage, flood, uncontrollable disease and accident. Premium rate is dependent on the standard of risk management, biosecurity, size of the farm, and the type of birds to be insured. The sum insured is based on the declared market value of the broiler at table size, and layers at point of lay.

Requirements:

  • Completion of our proposal form
  • Physical inspection/pre-loss survey of your farm
  • Standard farm management and Good Agronomy Practice (GAP).

Livestock Insurance Policy

This policy insures livestock (e.g. cattle, sheep, goats, rabbits, and pigs) against death caused by fire, lightning, windstorm, flood, accident, outbreak of uncontrollable disease. The coverage provided by this policy indemnifies based on the value of insured animals in the event of death. The sum insured is dependent on the declared, and/or projected, market value of the animal.

Requirements:

  • Completion of our proposal form
  • Physical inspection/pre-loss survey of your farm
  • Standard farm management and Good Agronomy Practice (GAP).

Fish Farm Insurance

This policy insures fish against death and fish pond against collapse as a result of fire, lightning, windstorm damage, flood, uncontrollable disease and accident.The sum insured is based on the declared, and/or projected market value of the fish.Premium rate is dependent on the standard of risk management, biosecurity, size of the farm, and the type of fish to be insured.

Requirements:

  • Completion of our proposal form
  • Physical inspection/pre-loss survey of the farm
  • Standard farm management and Good Agronomy Practice (GAP).

Farm Property & Produce Insurance

This policy provides cover against loss of, or damage to, farm property (e.g. warehouse and farm equipment) and agricultural produce as a result of fire,burglary/housebreaking,lightning, flood, windstorm, explosion, aircraft, earthquake, and impact risks.Premium rate is dependent on the standard of risk management measures implemented in order to protect the property/produce.

Requirements:

  • Inventory of items to be insured
  • Completion of our proposal form
  • Physical inspection/pre-loss survey of the items to be insured
  • Standard management and housekeeping of the items.

Plantation Fire Insurance

This policy covers cocoa, sugar cane, oil palm and other plantation farms against loss or damage as a result of fire, lightning, flood, windstorm, and aircraft perils.The sum insured is based on the declared market value of the crops on maturity.Premium rate is dependent on the standard of risk management, biosecurity, size of the farm, and the type of crop(s) to be insured.

Requirements:

  • Completion of our proposal form
  • Physical inspection/pre-loss survey of the farm 
  • Standard farm management and Good Agronomy Practice (GAP).

Multi-Perils Crop Insurance Policy

This policy insures your farm against loss of, or damage to, your crop caused by fire, lightning, explosion, aircraft damage, windstorm, flood and outbreak of uncontrollable pest and disease.The coverage provided by this policy will pay for the production costs of crops that have been lost or damaged during the period from planting up to the maturity of the crop.

Requirements:

  • Completion of our proposal form
  • Physical inspection/pre-loss survey of your farm
  • Standard farm management and Good Agronomy Practice (GAP).

Area Yield Index – Based Insurance Policy

Area Yield Index Insurance is an insurance policy that provides cover against drought,excessive Rainfall, windstorm, frost, uncontrollable plant disease and pest, excessive heat wave, hail, and flood. Under this policy class, farmers are grouped into assigned areas (e.g. local government areas, states within the same agro ecological zone).

Requirements:

  • Risk Information Schedule, detailing: the name, location (address) of the farm,type of crop, number of hectares, sum insured (per hectare), size of each farm,farming period/planting calendar, farm gate price as validated by relevant agencies, Expected Guarantee Yield Level, and other relevant information;
  • Economies of Production (EOP) is required
  • Standard farm management and Good Agronomy Practice (GAP) are required at all times.
  • Five years of historical yield data.

Weather Index Insurance

This insurance product covers your farm against inadequate or excessive rainfall leading to crop loss. Claim pay-out is based on the realization of a specific weather parameter measured over a pre-specified period of time at a particular weather station. The insurance can be structured to protect against index realizations that are either so high or so low as to cause crop losses. For example, the insurance can be structured to protect the insured against too much or too little rainfall.

Requirements:

  • Risk Information Schedule, detailing: the name, location (address) of the farm,type of crop, number of hectares, sum insured (per hectare), size of each farm,farming period/planting calendar, farm gate price as validated by relevant agencies, Expected Guarantee Yield Level, and other relevant information
  • Economies of Production (EOP) is required
  • Standard farm management and Good Agronomy Practice (GAP) are required at all times.
  • Five years of historical yield data.

Who purchases this cover?

For Corporate and Individuals.

Speak to an AIICO Staff or Agent today.  Contact us on aiicontact@aiicoplc.com.

About Us

AIICO Insurance Plc., is the leading life insurer in Nigeria.

Founded in 1963, AIICO provides life and health insurance, general insurance, investment management and pension management services as a means to create and protect wealth for individuals, families and corporate customers.