Insurers and Agrinsurance: Kungula is launched! “kungula” in Luganda means to “ harvest” which is an apt name for this product which basically covers crop and livestock risks. Due to the uncertainties you might face as a farmer that will impact upon your product (and therefore your income) this product looks at:- 1. Weather indexed insurance- which is a new approach in Uganda that minimizes the effect of weather hazards on financial loss during agricultural production. It helps in the recovery of monetary looses due to weather hazards, repayment of loans and increases access to credit for all agricultural stakeholders- especially farmers. 2. Livestock (cattle) All Risk Mortality (ARM) Insurance- is a new way for farmers, banks and agricultural stakeholders in Uganda to minimize the financial impact of adverse agricultural risks on livestock production. It is designed to help with the repayment of loans and allow for further access to credit in the following year. This product is the brain child of six (06) insurance companies -Lion Assurance, APA Insurance, First Insurance, NIC, NIKO, UAP and aBi Trust. For more information on Kungula, please contact 0312 207000 (Lion), 0414-250087/251103 (APA), 0414-342863/233750 (First Insurance), 0414-258001/5, 341645 (NIC), 0312-264720/1/2 (NIKO) and 0414-332700, 0312-260108/9 (UAP).
Posted on: Fri, 12 Jul 2013 07:30:01 +0000
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