The National Agricultural Mutual Fund (CNMA) intends to launch a new insurance offering called ''Taamine Thika'', targeting small farmers and herders, this year.
Mr Abdennacer Ait Oumalou, CNMA 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, and small farmers with herds which do not exceed five bovine heads each, reported the Algeria Press Service.
This insurance product will cover farm equipment and property, livestock, harvest and accidents, in addition to reimbursing the cost of medicines incurred by insured persons and their rights holders, he said.
Mr Ait Oumalou said the annual premium for the insurance cover will be capped at DZD10,000 (US$91). He called for incentives to promote the product including significant discounts on motor insurance for those who subscribe to the farm insurance product.
DZD100 = US$0.91