AAIB to launch insurance month for farmers

2026-01-29 - 07:46

The Agricultural and Agrarian Insurance Board (AAIB), under the Ministry of Agriculture, Lands, Livestock and Irrigation, has announced an insurance month for the farming community, effective from February 2026. During this period, farmers can obtain insurance coverage for a wide range of crops, including paddy, maize, potatoes, onions, soybeans, chili, and others, protecting against losses caused by drought, floods, wild elephants, insects and pests, diseases, and fire. Premiums are affordable, with compensation examples including Rs. 60,000 per acre for crops like cowpea, mung bean, finger millet, sesame, and horse gram, requiring a premium of just 7% of the insured amount. Similarly, for crops such as sweet potato, cassava, cabbage, beans, tomatoes, and pumpkin, farmers pay 7% of the insured amount per acre – for instance, Rs. 100,000 coverage for sweet potatoes costs Rs. 7,000. The AAIB has also introduced special insurance schemes for high-value crops like ginger, turmeric, cinnamon, pepper, pineapple, papaya, and banana. Farmers seeking further details can contact the AAIB head office or any of its district offices island-wide.