Sri Lanka Coconut Cultivators’ Association and the Ceylinco Insurance Company (CIC) under the guidance of the Coconut Development Authority (CDA) jointly launched a special Insurance scheme for the sector, which is a first for Sri Lanka.
Under this novel insurance program Ceylinco Insurance proposes to compensate and provide a sustainable insurance solution to coconut cultivators on behalf of damages caused in various ways to their cultivations.
“This novel scheme also strives to ensure the acquisition of a maximum harvest of quality and through that to increase the local coconut grower’s income.
This is intended to bring a strong turning point to the local Agro sector as well,” said Assistant general manager of Ceylinco Insurance, Deshapriya Wickramaratne.
“Under this new scheme coconut trees would be covered against disasters such as cyclones, droughts, pests, animals such as monkeys and diseases,” he said.
Initial premium to be is Rs. 60 per tree and a further compensation in excess of Rs. 1000 is also to be paid.
Ceylinco Insurance has also ensured a guarantee when obtaining compensation under this scheme.
“The insurance programme has been created according to experts from recognized institutions in Sri Lanka which supply relevant technological knowledge,’ Ceylinco Insurance Senior Manager Corporate Accounts Leonard Solomon said.
Coconut Growers Association of Sri Lanka President Jayantha Samarakoon said the new scheme would be a great boost to the coconut planters and the industrialists.
This programme is being launched under the guidance of State Minister Arundika Fernando, targeting facts identified by the Coconut Development Authority (CDA), subject to the supervision of the Director (Marketing and Research) of the CDA, Sampath Samarawickrema. The CDA will also monitor the progress of this programme.
“We intend to implement this scheme island wide,” he added.
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