Agricultural insurance remains one of Zambia’s most important yet underdeveloped financial protection tools for farmers facing droughts, floods, pests, and other climate-related risks. However, questions have emerged over the level of commitment from insurers in providing affordable insurance policies tailored to the local farmers’ needs. Speaking in an interview with the Zambian Business Times (ZBT), NICO Insurance Agriculture Underwriter Eugene Nundwe said that the company has very limited participation in the sector, with only about 20 farmers captured, but makes approximately $100,000 annually from agricultural insurance products. Although the benefits are extensive, most insurance companies like NICO are reluctant due...
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