Farmers unaware of insurance options despite growing coverage, expert says

An insurance and risk management expert has said that Nigerian farmers are largely unaware that their poultry, fish and cassava farms can be insured. Raymond Akalonu, Managing Director and CEO of Umbrella Insurance Brokers Limited, made this known in an interview with Vanguard AgroBiz at the All-Inclusive Mass Media Training for Journalists in Lagos. He noted that the agric insurance space, previously dominated by the Nigerian Agricultural Insurance Corporation, now includes new entrants such as Leadway Assurance, AIICO Insurance and Consolidated Hallmark Insurance. Akalonu urged journalists to help close the awareness gap among farmers.

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