NAIROBI, Kenya, Feb 14 –Kenyan insurance company, APA Insurance has announced an Shs12 million initial insurance payout to more than 5,000 maize farmers in Nandi for losses incurred during the 2021 drought season.
APA issued the payout on behalf of Apollo Agriculture, Pula, and the Kenya Agriculture Insurance Group (KAIG) which comprises seven top insurers – UAP, CIC, Amaco, Jubilee, Kenya Orient, and Geminia.
Apollo Agriculture is the client, and Pula is the service provider and did risk assessment to determine the claims for the smallholder farmers.
Ashok Shah, Apollo Group’s Chief Executive Officer underscored the need for Agriculture finance and insurance which he said is important for achieving the mission of eradicating poverty and ensuring shared prosperity.
“We are supporting the Government of Kenya agenda on food security through the creation of an enabling environment and ensuring sustainable natural resources management.
He cited concerns by farmers who previously carried a great burden occasioned by crop failure, climate change, pests, and diseases.
“The private sector has come to close this gap and insurers have played a major role in ensuring that farmers have a steady income from their activities regardless of the weather and other factors,” he said.
