The Nigerian Agricultural Insurance Corporation (NAIC) has said it paid claims worth N464 million in the first quarter of 2019 to its insured farmers across the country who were affected by natural disaster.
Recall that the new Management of NAIC has engaged stakeholders across in its consultation meeting to work out modalities to ensure that the claims of farmers who are insured and affected by natural disaster were fully paid.
The Managing Director/CEO of NAIC Mrs Folashade Joseph who disclosed this in a press statement issued and signed by the Head Corporate Affairs of NAIC, Magdalene Omosimua, said the prompt payment of claims is the cardinal principle of NAIC.
Her words :”As a responsible player in the agriculture insurance space, we at NAIC believe that prompt payment of claims is the ultimate goal of any insurance business”.
The Nigerian Agricultural Insurance Corporation, an Agency under the Federal Ministry of Agriculture and Rural Development, was established by the Federal Government to shield farmers from the adverse effect of natural disaster.
The NAIC MD/CEO, Mrs Joseph stressed that the Corporation provides Insurance cover to all categories of operators whether small, medium or large scale across the agricultural value chain.