NIRSAL, Royal Exchange launch hybrid insurance scheme for Nigerian farmers

“This latest development is a testament to the progress NIRSAL Plc is making in the Agricultural insurance space. Prior to NIRSAL Plc’s intervention, private underwriters were not insuring agriculture.

In his remarks, Yusuf Yila, Director of CBN’s Development Finance Department revealed that the CBN has adopted NIRSAL Plc’s Area Yield insurance products and looks forward to deploying the HM-II. On his part, Sunday Thomas, NAICOM’s Commissioner for Insurance/CEO, who was represented by NAICOM’s Director of Policy & Regulation, Leonard Akah, stated that in line with the Federal Government of Nigeria’s Financial Inclusion Strategy, NAICOM was eager to lend its support to the development of a product such as HM-II.

Source: Insurance Report (insurancereport.net)

nirsalconnect This is great news to Nigerian farmers

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