Britam urges industry to cushion farmers

Britam Insurance Company Limited has emphasised the need for industry players to come up with products to cushion the effects of climate change.

Speaking when the company introduced three new directors, namely Benedicto Nkhoma, Gift Chikwakwa and Robert Kapyepye, the firm’s group chairperson chairperson Kuria Muchiru said insurance service providers should not leave out farmers, who face shocks and risks due to the effects of climate change.

He said: “We have to reach out to farmers for they face risks and shocks that need insurance cover. We have seen floods in Kenya and cyclones in Malawi, which have affected farming.

“While we are looking at our growth given the opportunities in our midst, we must also provide services that will answer to the needs of local farmers.”

Britam group managing director Tom Gitogo said efforts should be made to take insurance to the people who face the effects of climate change.

He said: “Insurance must protect citizens from uncertain conditions like floods. Comprehensive insurance covers motor and infrastructure damage even in floods, which the region has faced recently.

“It is most important not only to companies or the wealthy but to the common man as well.”

The newly appointed Britam Malawi board chairperson Benedicto Nkhoma hailed the interaction with the company’s officials from Nairobi, Kenya, saying it has helped them analyse the vision and strategies they have not only for Malawi, but the region.

He said this is in line with the vision to enhance penetration into the market.

“It is time for us to engage stakeholders, outliers and those affected. We are not just talking about the big farmers, but even the peasant farmers who feel the services are too expensive,” he said.