The National Fund for Agricultural Cooperation is set to launch a new product that covers all risks related to agricultural disasters resulting from climate change.
Shérif Ben Habilès, the Director General of the fund, revealed in a statement to the Algerian Press Agency that the soon-to-be-launched product will cover various climatic phenomena such as droughts, floods, and currently uninsured risks.
Ben Habilès indicated that a “system for agricultural disaster insurance” is scheduled to be launched, explaining that it will address the impacts of climate change, which annually causes significant losses for farmers, especially due to fires and droughts.
He also mentioned that the fund had organized an international forum in 2017 to highlight the impacts of climate change, noting that the agricultural sector is the most vulnerable to climatic fluctuations.
Given these climate changes and their repercussions, Ben Habilès stated, “We are required to anticipate solutions to secure investments and farmers’ incomes, and to act as an insurer for the agricultural and rural world, which must comply with a somewhat specific system.”
He highlighted that the public company is committed to promoting microinsurance through the “Insurance of Trust” package, which provides rural families with limited incomes a single product that covers all risks.
This offer, Ben Habilès added, is aimed at small breeders and farmers, protecting them against risks related to their social life, whether in a professional or family setting, such as death, disability, retirement, and civil liability.
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