The Acting Commissioner of Insurance, Michael K Andoh, who disclosed this in Accra on Tuesday when the NIC and Policy Link signed a Memorandum of Understanding to that effect, said the AIF operational governance framework would be ready by September next year.
According to the Acting Commissioner of Insurance, the AIF operational and governance document, would among others, define the crops to be insured, the number of farmers to be insured and the premiums to be paid by farmers. He said the sector was faced with a myriad of challenges, such as diseases, pest, drought, unpredictable weather patterns, and climate change, which jeopardised food production and security.There was a problem processing your submission. Please try again later.
He said the AIF would help agricultural insurance to be affordable so that smallholders could buy insurance for their farms to protect them against losses. "Despite its importance, the agricultural sector remained vulnerable to climate-related risks, such as drought, excessive rainfall, floods and wildfires, threatening food production security," he said.