Insurance is a financial arrangement and a contract between an individual, organisation, or entity (the policyholder) and an insurance company (the insurer). It provides a mechanism for individuals and businesses to protect themselves against financial losses and uncertainties by transferring the risks associated with specific events to the insurer in exchange for payment, known as a premium.
In South Africa, there are several types of insurance products that are specific to farmers and agriculture-related businesses. These insurance policies are designed to provide financial protection and risk management for farmers in the country. Some of the key farmer-specific insurance options available in South Africa include:
CROPS
Crop insurance in South Africa is a specialised type of insurance designed to protect farmers against financial losses resulting from various risks and perils that can affect their crop production. Crop insurance typically entails the following:
Coverage for crop loss. Crop insurance primarily provides coverage for losses in crop yield or quality caused by a range of perils, including adverse weather conditions (such as drought, excessive rain, frost and hail), pests, diseases and other natural disasters. It helps farmers recover some or all of their financial losses when these events negatively impact their crop production.
Yield coverage. Crop insurance often provides coverage based on the actual yield or production of the insured crop. The insurance payout is determined by comparing the actual yield to the expected yield based on historical data and farm-specific information.
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Denne historien er fra October 20, 2023-utgaven av Farmer's Weekly.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Syngenta Seedcare celebrates a decade of innovation
Syngenta's ambition is to enable their customers' investments to grow in healthy soil from treated seeds to young plants through innovation and collaboration, writes Magda du Toit.
Agri workers shine at Western Cape awards
Lindie-Alet van Staden, a garden and olive orchard manager at L’Ormarins Wine Estate in Franschhoek, was crowned as the Western Cape Prestige Agri-Worker of 2024 at a gala event recently held near Paarl.
Small and large farmers recognised at grain awards
The annual Grain SA/Syngenta awards ceremony bears testimony to the quality of farmers in the grain industry.
Growing partnerships: Fedgroup's flexible and innovative approach
Janine Ryan spoke to Warren Winchester, general manager of impact investing at Fedgroup, about why the company became involved in agriculture, and what it offers farmers and their immediate communities.
Why fish farms fail, and how to avoid becoming a statistic
The popularity of launching fish farms is not matched by their success. Leslie Ter Morshuizen, owner of Aquaculture Solutions, explores the factors that cause most of these businesses to go under.
Where history and modernity meet in a luxurious setting
Brian Berkman kept his eyes peeled for ghosts in the oldest continuously run hotel in South Africa, but all he found was a fabulous two-night stay.
THE HITCHING POST
I'm a stylish elderly lady with a radiant glow and a good sense of humour that keeps me young at heart.
Cutworms: check the weeds on your fields!
Zunel van Eeden explains why understanding the ecological interplay between cutworms and weeds is crucial for effective pest management. Producers should disrupt the life cycle of cutworms to minimise crop damage.
Does high-density grazing mimic grazing patterns of game?
In their paper on high-density grazing in Southern Africa, professors Angelinus Franke and Elmarie Kotzé from the Department of Soil, Crop and Climate Sciences at the University of the Free State say high-density grazing systems may not accurately reflect natural ecosystems. Roelof Bezuidenhout reports.
Global grain outlook: 2024/25 marketing season
In its latest summer crops report, the Crop Estimates Committee says South African farmers intend to plant 4,47 million hectares of summer grains and oilseeds in the 2024/25 season, up 1% from the previous season. As South Africa exports maize and soya bean, Annelie Coleman reports on the latest trends in the international grain and oilseed markets, amid fluctuations in weather conditions and ongoing armed conflicts.
