Algeria: New agricultural insurance against yield losses launched

May 27, 2011

The national Agricultural Insurance Fund has announced the launch of a new insurance against yield losses in Algeria.

This policy will allow farmers to be compensated in the event of a decrease in production yield, with a base line set between the two parties.

It will be available at the beginning of 2012 and will first target the potato and palm cultivation markets.

The insurance will then extend to the milk industry and other strategic sectors, said CNMA's General Secretary Chérif Benhabilès, quoted by APS news agency.

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fresh product should contribute to the financial sector's development in Algeria, where, "less than five per cent of farmers, around 65 000 people, have signed up to an agricultural insurance at the CNMA", added Mr Benhabilès.

It was also announced this week that three new life insurance companies are about to be operational in Algeria.

Caarama, Taamine Life Algérie and La Société d'Assurance de Prévoyance et de Santé have obtained an agreement from the finance ministry, La Tribune newspaper reports.