Good news for insured sugarcane farmers as the Sugar Cane Growers Council has announced the continuity of Cane Farmers Micro Bundled Insurance Scheme.
The scheme is in its 4th year of rollout and according to the Council, the product has been beneficial to growers in times of need and so far a total of 359 growers have received claims at a total value of $1,183,194 since 2017.
The three years’ annual premium was paid by Sugar Cane Growers Fund whilst the Government paid for six months premiums from 1st July to 31st December 2020 on behalf of all insured growers.
Annual premium cost is approximately $600,000.
The Council says the Bundled Insurance Product is the sole welfare initiative currently available to cane growers at an annual premium of $52 dollars.
The product provides a total cover $10,000.
The Council adds considering the difficulties faced by individual growers to pay in cash, the Council has adapted an effective platform for deductions to be made from growers share of cane proceeds which directly goes to the FijiCare Insurance.
