30 female farmers to benefit from weather protection insurance
Published:Tuesday | December 17, 2024 | 12:07 AMKeisha Hill/Senior Gleaner Writer
GK General Insurance, a subsidiary of the GraceKennedy Financial Group (GKFG), has partnered with the Jamaica Network of Rural Women Producers (JNRWP) to support the resilience of 30 local female farmers in the wake of the distressing financial impact of crop and livelihood losses associated with natural disasters.
The farmers from St Elizabeth, Portland, St Mary and St Thomas are greatly impacted by natural disasters, including flooding associated with hurricanes and other weather systems. These natural disasters affect their farms, and livelihood, and usually after these natural occurrences, they have no choice but to start over, depleting their already limited financial resources.
According to Chaluk Richards, general manager of GK General Insurance, with the devastation that hurricanes and other natural disasters bring, there is not enough capital in the cycle of the farmers to ease the burden of the struggle that many farmers endure.
The GK Weather Protect insurance now being offered to the farmers, he said, will protect them, save lives and protect their livelihood.
“We want to ensure that the farmers do not start from scratch when they are impacted by natural disasters. There are not many persons that have or can put in place advanced protection against natural disasters associated with farming. We are providing solutions for our farmers that will benefit them. We can’t stop these disasters from happening but they can be more resilient when they occur,” Richards said.
The GK Weather Protect insurance is being administered in association with CARE International, a global network of independent national organisations, which include CARE members, candidates, and affiliates, social enterprises, and thousands of community-based partners, all working together across more than 100 countries to save lives, end poverty, and fight social injustice.
In offering flexible solutions for managing weather-related risks, farmers can choose coverage against individual perils such as rainfall, drought and hurricane winds or even combine them for comprehensive protection. Coverage starts at $50,000 and can be increased in increments upward of $50,000 with no monthly payments required.
ACTION PLANS
Having already enrolled some 460 farmers, Client and Partner Services Manager Orette Duncan said they have some action plans in place and they are working to see if they can get as many persons signed up as possible.
The objective, he said, is to get as many as 25,000 to 30,000 farmers on the programme. Following the passage of Hurricane Beryl in July, he said they are hoping to see a higher take-up for this particular product.
“To protect our local farmers and fisherfolk, GK General Insurance (GKGI) is on an ongoing mission to develop and maintain strategic partnerships, ensuring that vulnerable farming groups receive support for their crops and their livelihood,” Duncan said.
“To date, GKGI has partnered with the Ministry of Agriculture and Fisheries, who, in 2021, at the launch of the GK Weather Protect crop insurance product, invested the cost of insurance premiums for 1,000 farmers to receive critical cash coverage to support farmers and fisherfolk after a natural disaster occurs,” Duncan added.
The GraceKennedy Financial Group is a leading financial services provider in the Caribbean, offering a wide range of banking, insurance, investment and money services. They are committed to providing customers with the highest quality products and services, backed by their commitment to delivering superior value and customer service excellence.
In welcoming the GK Weather Protect insurance, president of the JNRWP, Tamisha Lee, said the handing over of the first set of GK Weather Protect policies represents more than just a safeguard against climate risks. She said it symbolised another step in empowerment, sustainable livelihood, self-determination, sustainability, resilience and hope for a better future.
“This initiative is a testament to what can be achieved when we collaborate with partners like CARE International, CPDC, Lions and Leo clubs, Red Cross and GK General Insurance to equip our women with the tools to adapt, recover, and thrive in the face of uncertainty,” Lee said.
“These policies are distributed today, provide a safety net, offering protection against the financial impacts of hurricanes, droughts and excessive rainfalls. This is the beginning. We plan to begin an all-out drive to get more members enrolled in the programme.”