Leadway Expands Insurance Policy to Cover Livestock Encroachment

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Leadway Assurance has extended its flagship coverage, agricultural insurance, to farmers for losses incurred due to the encroachment of livestock on their farmland.

This policy is a response to the plight of farmers who have suffered enormous financial losses as a result of the destruction of their crops and farmland during the encroachment of nomadic livestock.

According to the director of Agriculture and Micro Insurance, Leadway Assurance, Mr. Ayoola Fatona, the extended coverage of the policy will encourage continued investments in agriculture to prevent food security nationwide.

For him, “as a primary risk bearer and provider of insurance services, especially for the agribusiness sector, we aim to provide a top notch service, to satisfy our esteemed farmers, agribusiness investors with our solutions of dynamic, tailor-made and comprehensive insurance.

“The call from farmers to extend insurance coverage to the risk of livestock encroachment has grown over the years, and in our usual characteristic way of meeting the needs of our customers, we have decided to cover the risk of livestock encroachment as an extension of our current crop policy.

Stating that its current crop policy covers farmers at the time of loss, mainly against natural hazards such as floods, drought, windstorms, prolonged drought periods, among others, farmers who suffer losses related to animal encroachment would be compensated by the deployment of this exemplary risk management tool.

“It is a win-win solution for the agricultural ecosystem and the food consuming population in Nigeria. With this bold move, it is undeniable that Leadway Assurance is poised to make farming a peace-of-minded business, despite the growing conflicts between farmers and ranchers that dominate Nigeria’s agricultural sector today. . Mr. Fatona added.

The Leadway Comprehensive Comprehensive Crop Insurance Product Extended is a policy that provides financial recovery to farmers who experience losses related to the encroachment of domestic animals by ranchers invading a farm and causing destruction or reduction in the value of crops. harvests.

Therefore, farmers in Nigeria are advised to contact Leadway Assurance to find out how to access this additional insurance solution.

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