By BRIAN HATYOKA –
THE Insurance Association of Zambia (IAZ) has urged farmers to insure their livestock to mitigate losses which arise from livestock diseases in the country.
IAZ President Shipango Muteto said there was need for farmers to insure their livestock as the country was faced with several livestock diseases such Contagious Bovine pleuropneumonia (CBPP), Corridor disease and Foot and Mouth disease which were destroying a lot of animals.
Mr Muteto said in an interview in Livingstone that farmers could sell some of their cattle and procure insurance services to cover their livestock.
“There are a lot of insurance products that are available to carter for livestock and our appeal to farmers is that they should consider insuring their animals.
“For instance a farmer with more than 20 cows can sell one cow and secure an insurance cover for more than five years,” Mr Muteto said.
He noted that most farmers in Southern Province depended on animals as their source of wealth and it was important to preserve their wealth through insurance.
“When farmers are compensated after losing their animals from livestock diseases, they can restock their animals and continue with their farming business.
“Most of our members provide life or livestock insurance for cattle, sheep, goats and chickens among others,” Mr Muteto said.
He said there were also insurance schemes such as weather index insurance which worked through associations and ensured that a group crop failure was covered.
“The index measures the minimum level of rainfall expected for the crop to grow.
“Last year, an insurance company working in the area of cotton compensated and paid K300, 000 to farmers in Mumbwa and Chipata to farmers who recorded a crop failure,” he said.