Chamwe Kaira
The Namibia Special Risks Insurance Association (Nasria) is getting ready to introduce the innovative Weather Index Based Livestock Insurance (WIBLI).
Johannes Alugodhi, the agriculture manager at Nasria said in an interview that Nasria is committed to launch the innovative WIBLI product to the market (Agriculture sector) before the down of 2023.
Alugodhi said WIBLI will provide a solution by insuring livestock farmers against droughts and excessive rainfall and floods, which are the most significant climatic change risks challenges facing the agriculture sector.
He said with WIBLI, there is no field, farm, grazing ground level assessment required to confirm droughts and excessive rainfall or floods situation in any region.
“Cumulative rainfall shall be monitored during the rainfall season which will serve as proxy against possible signs of drought and or excessive rainfall received and if triggers are breached, triggers a proactive and timely payout to the insured livestock farmers where the trigger is activated.”
Alugodhi said the product will offer proactive and timely payouts, immediately after the rainfall season for farmers to start sourcing fodders to supplement their cattle throughout the drought and or flood period.
He said the new special risk products development is informed by Nasria’s mission to provide relevant and innovative insurance solutions for special risks to support its vision and fulfil its mandate.
“To this end, drought and floods are significant climate change risks challenges with a greater potential to collapse the sector, hence Nasria’s intervention with the innovative WIBLI to assist livestock farmers mitigate these risks, enhance resilience, and achieve sustainable livestock production, food security, economic growth in a sustainable manner.”
Alugodhi said WIBLI is meant to complement the current agriculture insurance products offered in the market by the conventional insurance companies.
After the successful pilot of WIBLI, Nasria plans to expand its special risks offer to the crop sector and the agronomic staple food crops in Namibia.
He said WIBLI is aimed at insuring both communal and commercial livestock farmers in Namibia and shall be first piloted in the Hardap, Omaheke, Otjozondjupa, Ohangwena and Omusati regions.
