Tuesday 26 November 2013

NAICOM explores climate insurance to boost agriculture


Daniel
 
 
Chuks Udo Okonta

The National Insurance Commission (NAICOM) is poised to improve the agricultural system by initiating new perspectives on climate insurance, the Commissioner for Insurance Fola Daniel, has said.

He disclosed this in Lagos, adding that this has become necessary due to recent climatic changes and the menace of floods to agricultural produces.

Daniel said: “Looking at the recent climatic changes and the menace of floods to our agricultural produce, NAICOM is poised to improve the agricultural insurance system by way of coming out with new perspectives on climate insurance.

“Against this backdrop, I call on the industry to exploit the opportunities provided by the microinsurance guidelines for us to get the encouragement to start thinking of the next level of productivity that lay ahead for the prosperity of the industry.”

He said the commission is committed to driving the industry to greater heights through the provision of strategic and far reaching regulatory frameworks aimed at reducing risks and entrenching local participation.

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