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Farmers Urged to Embrace Insurance to Combat Climate Change Risks

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Insurance plays a vital role in helping farmers recover from climate-related disasters and protect their livelihoods, according to AFC Insurance.

As climate change threatens food security and rural economies, insurance tailored to the needs of farmers is becoming increasingly important. Many farmers, especially in vulnerable communities, are unaware of the insurance options available to safeguard against these risks.

AFC Insurance is working to raise awareness of agricultural insurance through a workshop in Harare, aiming to help farmers understand how insurance can protect them from crop and livestock losses caused by climate events like El Niño.

The 2023/24 drought, worsened by El Niño, caused severe water shortages, poor crop yields, and livestock deaths, particularly affecting smallholder farmers who rely on rain-fed agriculture. To address these challenges, AFC Insurance, in collaboration with the Insurance and Pension Commission, is offering coverage to farmers under the “Farmers Basket” programme, which provides compensation for low yields.

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The program was successful in Rushinga, Guruve, in the 2022/23 season, and has been extended to other provinces. For example, farmers in Goromonzi received compensation after paying a small premium. The goal of the workshop is to highlight the importance of insurance in managing risks linked to climate change, particularly El Niño, and to showcase the various insurance products available, such as crop and livestock insurance.

AFC Insurance offers several types of crop insurance, including multi-peril coverage for risks like drought, hailstorms, and floods, as well as parametric insurance products that provide payouts based on specific weather conditions. Livestock insurance covers accidents, illness, theft, and damage from natural disasters.

The workshop will also discuss strategies to enhance the resilience of Zimbabwe’s agricultural sector, with a focus on how insurance can mitigate the effects of extreme weather events and support long-term sustainability.

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