Nigeria: NAIC confirms N464m claims payment to insured farmers

WorldStage Newsonline– Nigerian Agricultural Insurance Corporation (NAIC) has paid claims of N464 million to insured farmers across the country, according to Mrs Folashade Joseph, Managing Director of the Corporation.

According to a statement by Mrs Magdalene Omosimua, NAIC Head, Corporate Affairs, Joseph said the payment was made in the first quarter of 2019.

She disclosed that prompt payment of claims had always been the cardinal objectives of the Corporation and urged farmers to always insure their farms in case of disaster.

“As a responsible player in the agric insurance space, we at NAIC believe that prompt payment of claims is the ultimate goal of any insurance business.

“NAIC was established by the Federal Government to shield farmers from the adverse effects of natural disasters,” she said.

She, however, stressed that the Corporation would provide insurance cover to all categories of operators whether small, medium or large scale across the agricultural value chain.

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