Posted on July, 30, 2019 at 10:18 am
THE National Insurance Corporation (NIC) is set to launch its new Crop Insurance product in the Nanenane exhibitions scheduled to take place from Thursday this week in Simiyu Region.
Speaking during Nananane stakeholders’ joint press conference in Dar es Salaam, over the weekend, NIC Marketing Director, Mr Elisante Maleko said that they would use the opportunity to educate the farmers on the importance of insuring their crops for their personal development and the nation as a whole.
“To have this new NIC service, farmers should be in groups of five to 10 members, so as to make it easy for us to reach as many farmers as possible,” said Mr Maleko at the press conference organized by Business Registrations and Licensing Agency (BRELA).
He further said the crop insurance service will be for any farm with a size of from five acres and that maize, cotton, rice and cashew- nut are among crops to be prioritized.
The premiums rates will be determined by how much group members have invested in a certain farm, said the Corporation’s Marketing Director.
“Actually we have already set premium rates but we would not like to expose so as to withstand the competition in the markets. Researching on premiums consumes our time, energy and financial resources, thus, exposing them is giving room for competitor to tamper with them,” he said.
Source: Daily News