Africa News - Algeria: Mutual to cover small farmers
Source: Middle East Insurance Review | May 2016
The National Agricultural Mutual Fund (CNMA) intends to launch an insurance product, ''Taamine Thika'', for small farmers and herders this year.
Mr Abdennacer Ait Oumalou, CNMA’s Marketing Manager, said that the new product is targeted primarily at small farmers – owners of plots that range from one to five hectares in size, or those with herds which do not exceed five bovine heads each, reported the Algeria Press Service.
The product will cover farm equipment and property, livestock, harvest and accidents, in addition to reimbursing the cost of medicines, he said.
Mr Ait Oumalou said the annual premium for the insurance cover will be capped at DZD10,000 (US$93). He called for incentives to promote sales, including discounts on motor insurance for those who subscribe to the insurance product.
DZD100 = US$0.93