UAP Old Mutual Group has fulfilled their mandate has a worthy Agric insurance company by compensating Kenyan tobacco farmers with Ksh 48 Million.
Over 1,000 tobacco farmers have been paid Ksh 48 million in compensation after drought, pests, diseases and fires affected the curing process of their crop during the 2017/2018 season.
The farmers from Eastern, Western and Nyanza regions contracted by British American Tobacco (BAT) were paid after incurring losses during the 2017/2018 season.
The tobacco farmers are covered by the UAP Old Mutual Group agriculture insurance.
So far, over Ksh 186 million has been paid to about 3900 farmers covered by the UAP agriculture insurance.
“As an organization we care for the well-being of our customers and what is important to them. We are grateful for this partnership and we look forward to growing it even more” said UAP Old mutual group acting Managing director Insurance, Isaac Nzyoka who was present during the presentation of the cheque to BAT.
Farmers contracted by BAT were insured against drought, excessive rainfall, pests and diseases, flooding, frost, hailstorm, windstorm and fire.
The Kenya Agriculture Insurance Programme (KAIP), an insurance consortium which the UAP Old Mutual Group is a member, provides area yield insurance and Livestock index insurance to the Government of Kenya.
The government in return subsidizes premiums up to 50% for the crops and 100% for the livestock respectively.