Our Agriculture Insurance policy provides value to farmers by protecting farmers when shocks occur and by encouraging greater investment in crops and livestock
This insurance policy covers death of animals as a result of accident, diseases, flood, fire, lightning and windstorm. Livestock includes: Cattle, sheep, goat, dogs, ‘pigs, horses, zoo animals, etc., and indemnity is based on the value of the animal (Estimated Production Cost)/market value of the animal, which forms the Sum Insured.
Poultry Farm Insurance
This policy covers all domesticated birds against death due to accident, diseases, fire, flood, lightning and windstorm. The birds include: Broilers, cockerel, layers, noilers, turkey, ducks, parent stock, etc.
The Sum Insured is the Estimated Production Cost (EPC) up to the table size for broilers/noilers and point of lay for layers.
This policy covers against death of fish (such as catfish, tilapia, etc) and collapse of dam (fish pond) due to accident, diseases, fire, lightning, windstorm and flood. Again, the Sum Insured is the Estimated Production Cost (EPC)/market value of the fish.
Crops Farm Insurance
This policy covers against loss or damage to crops due to fire, lightning, flood, windstorm and aircraft damage. Crops include:Permanent/Cash Crops such as: Cocoa, oil palm, rubber, cashew, citrus and other plantations.
Arable/Food Crops such as: Rice, maize, sorghum, wheat, cassava, tomatoes and other food/arable crops.
The Sum Insured on Crops Insurance is the Estimated Production Cost (EPC) of the crop at physiological maturity (Arable Crops) while Sum Insured for Permanent/Cash Crops is the Estimated Production Cost (EPC) of the farm for one year.
- Proposal forms (to be completed by our clients/representatives).
- Farm inspection by Anchor Insurance staff or designated bodies/representatives.
- Good farm management (housekeeping, health and cultural) practices.
This depends, to a large extent, on the following:
- Standard of risk improvement in place.
- The level of bio-security in place.
- Type(s) of agriculture undertakings –fish, crops, livestock and poultry, to be insured by the proposer.
- The size of the farm/project.
- Individual farmers (small, medium and large scale producer).
- Group Farmers
- Corporate farmers
- Sponsored farmers/self-financed
Anchor Insurance Company Limited was registered and licensed by the National Insurance Commission (NAICOM) in October 1989 as a general business (non-life) insurance outfit and started business in November of the same year.
To be the most innovative and preferred provider of General Business Insurance Services in Nigeria.