NIRSAL Comprehensive Index Insurance (NCII) Launched in Nigeria
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The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) has developed a new insurance product called NIRSAL Comprehensive Index Insurance (NCII) to mitigate the impact and losses of agricultural yields and market price risks for smallholder farmers, PM News Nigeria reports.
"NIRSAL’s goal is to expand insurance products and coverage on agricultural lending across the entire value chain by growing coverage from about 0.5 million to 3.8 million primary producers,’’ said Aliyu Abdulhameed, Managing Director of NIRSAL. NCII was developed by the Corporation in conjunction with key partners including National Insurance Commission (NAICOM), National Agricultural Insurance Corporation (NAIC) and members of the consortium including Axa Mansard, IGI, Leadway, Royal Exchange and Pula Advisors - companies that received capacity building training from GIIF in 2018.