OVER ONE MILLION FISP BENEFICIARIES WILL BE ON INSURANCE COVER

By Irvin Muyumbwa
ZSIC General Insurance Limited has disclosed that a total of 1.1 million farmers on the Farmer Input Support Program-FISP for the 2022/2023 farming season will be on insurance cover as allocated by government.
According to the company, these farmers will be covered under a newly formed consortium of four insurance companies namely; ZSIC General Insurance, Madison General Insurance, Professional Insurance and Hollard Insurance.
ZSIC General Insurance Limited Managing Director Charles Nakhoze says the company has been insuring farmers for 3 years now with an initial number of 150,000 beneficiaries which was increased by government to 400,000 in the second year.
Mr Nakhoze says because of the complexity that comes with insuring 1.1 million farmers under FISP, the consortium was formed to support farmers affected by incidents such as drought, floods and poor germination.
And Mr Nakhoze says in 2021, ZSIC General Insurance paid claims of up to K177.3 million, higher than K70 million paid in 2020 while as at mid-year 2022, it paid in excess of K31.7 million.
He was speaking at the official opening of a 2022 insurance Master Class for media practitioners, which is part of the 10th insurance week commemoration.