The Chairman, Nigerian Insurers Association, Mr Tope Smart, has advised farmers, especially livestock farmers, to take appropriate insurance policies to mitigate unexpected losses in their businesses.
Smart made this known while speaking during an interview with the News Agency of Nigeria in Lagos on Thursday, against the backdrop of an outbreak of bird flu, also known as avian influenza in Plateau State.
The Chief Veterinary Officer of the state, Dr Spak Shaset, on February 19, stated that at least 3,900 birds were killed by the disease.
He said the outbreak affected two farms in Jos North and Jos South Local Government Areas of the state.
The NIA boss urged farmers running their produce without appropriate insurance cover to go and take appropriate agricultural or livestock insurance policies immediately.
He noted that such outbreaks were known to have pushed farmers into huge debts and out of businesses, especially farmers that refused to insure their farmlands and produce.
Smart said, “However, with insurance, such losses are curable with or without government intervention and help from friends and family.
“Farmers that rear birds or plant crops will not be pushed out of business with appropriate insurance. What insurance does is absorbing unexpected shocks and fixes you and your business back and appropriately.
“Insurance buys the unexpected future loss and pays back on the occurrence of such a loss.”
He noted that underwriters had developed friendly agricultural policies that farmers could take to cushion future losses.
He said farmers that had yet to insure their farmlands and livestock should quickly do so.
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