Launch of Agricultural Insurance Consortium
On 01st July 2023 in Nanenane Square Ipuli Tabora “TANZANIA AGRICULTURE INSURANCE CONSORTIUM-TAIC” has been officially launched by Hon. Hussein Bashe (MP) Minister of Agriculture of the United Republic of Tanzania. The launch of the Agriculture Insurance Consortium is part of the success of National Co-operative Week in the country where the consortium will begin providing agricultural insurance for the tobacco crop. In addition, other agricultural crops in all four areas namely crops, farming, fishing, and forestry will be included in the consortium as far as it is deemed appropriate.
On that launch, the Commissioner of Insurance Dr. Baghayo A. Saqware, and Deputy Commissioner Khadija I. Said accompanied by some of the leaders of the Authority, Association of Tanzania Insurers (ATI) and various stakeholders in the insurance and agriculture sectors attended.
The aim of the Agriculture Insurance Consortium is to put efficiency in the implementation of the Tanzania Insurance National Scheme (TAIS) and to increase the capacity of Tanzania's insurance market to provide agricultural insurance. In addition, the Association of Tanzania Insurers-ATI has formed a special consortium for the provision of agricultural insurance known as the Tanzania Agriculture Insurance Consortium-TAIC.
In his speech, Hon. Bashe, the Minister of Agriculture, addressed that it is time for insurance stakeholders to be innovative and come up with insurance products that can protect farmers from various disasters such as droughts and agricultural diseases. On the other hand, Hon. Bashe said the Government of the United Republic of Tanzania under the Ministry of Agriculture will allocate funds to stimulate purchasing agricultural insurance.
For his part, the Commissioner of Insurance Dr. Baghayo Saqware said that the Agriculture Insurance Consortium would be the right platform to advise the Government on the establishment of the National Agricultural Insurance Scheme with the aim of ensuring millions of Tanzanians involved in agricultural activities and have access to appropriate insurance to protect them from the effects of various disasters such as drought, flooding, and climate change.
In the picture are Hon. Hussein Bashe Minister of Agriculture of the United Republic of Tanzania, the Commissioner of Insurance Dr. Baghayo A. Saqware, and other stakeholders of the insurance and agriculture sectors attended the launch.
"CONGRATULATIONS TO THE INSURANCE INDUSTRY STAKEHOLDERS FOR GREAT SUCCESS IN 2023"
