The Nigerian Agricultural Insurance Corporation (NAIC) has announced the payment of N464 million as claims in the first quarter of 2019.
The claims were paid to the Corporation’s insured farmers across the country.
A statement by the firm’s Head, Corporate Affirms, Magdalene Omosimua, noted that the Managing Director/Chief Executive Officer of the Company, Mrs. Folashade Joseph, posited that prompt payment of claims has always been the cardinal principle of NAIC.
“As a responsible player in agric insurance space we, at NAIC, believe prompt payment of claims is the ultimate goal of any insurance business,” she said.
Mrs. Joseph stressed that the Corporation provides insurance cover to all categories of operators, whether small; medium or large scale across the agricultural value chain.
NAIC was established by the Federal Government to shield farmers from the adverse effects of natural disasters.