Farmers Gain From Insurance Package
Cane farmers around the country can rest easy over concerns about personal and property insurance, after a memorandum of understanding (MOU) signing between the Sugar Cane Growers Council and Fiji Care Insurance Limited in Lautoka.
Under the MOU, the Bundle Insurance Product package, will provide relief to thousands of sugar cane farmers around the country.
The package has been with growers over the past three years, where the Sugar Cane Growers Fund has paid insurance for the growers.
Growers will now fork out their individual premium package through cash or cane proceeds deductions.
Sugar Cane Growers Council chief executive officer, Vimal Dutt, said the premium of $52 per annum remaine, except for premium growers over the age of 65 years old who had to pay extra.
The product, a $10,000 package, comes as a relief to many cane farming families, he said. The product coverage includes:
■ death - $3000,
■ fire - $3000,
■ personal accident - $3000, and
■ funeral - $1000.
“This is a product that must continue,” Mr Dutt said.
“We have seen in the past three years that it has reached some 275 families with a value of $1 million or so.
“We have seen the literal impact of this product with our farming communities and we, the council, decided it must continue as it is our responsibility to take it to grower level, just as it is important that all growers take up the initiative.”
Mr Dutt said the Government had paid an insurance premium approximating $300,000 for July to December, 2020.
Fiji Care Insurance Limited group chief marketing officer, Joni Naverebalavu, thanked Sugar Cane Growers Council for taking over the partnership from the Sugar Cane Growers Fund.
“We really appreciate the benefit given to the sugarcane farmers,” Mr Naverebalavu said.
“The $10,000 package is a huge relief to the family members.
“We will continue our support with the council on this until the year of 2022.”
Sugar Cane Growers Fund chief executive officer, Raj Sharma, said there was interest in putting up an expression of interest for the truck fleet of the farmers.
“We have also put submissions to the Government to look at some structured and standard insurance coverage for farmers in rural areas - perhaps to a Category 3 cyclone level, and whether the insurance companies can look at what it can cover,” said Mr Sharma.
“Mortgage protection is also on our agenda for the people that we have financed.”
United Nations Capital Development Fund deputy programme manager Pacific financial inclusion programme, Krishnan Narasimhan, said the product was launched in 2017.
The product proved that a financial instrument, such as insurance, was able to help the low and poor families in Fiji, he said.
Feedback: