Minister of Agriculture and Fisheries, Floyd Green (right), peruses application form with Jordon Tait, Assistant General Manager, GK Insurance, at the launch of GK Weather Protect, a crop insurance policy developed specifically for farmers and fishers, held at the Ministry’s Hope Gardens offices on July 20, 2021. GK Weather Protect provides coverage to farmers and fishers for losses from heavy rain, hurricane winds and drought.
Farmers and fishers now have access to weather-related insurance coverage from GK Insurance for losses obtained as a result of damage caused by heavy winds and rain as well drought.
Describing the launch as a big step in the right direction, Minister of Agriculture and Fisheries, Floyd Green, commended GK Insurance for the initiative noting that it came at an opportune time as we were in the midst of the hurricane season.
“Between 2004 and 2017 our agricultural sector suffered $196 billion in losses from weather-related events. More recently, in October last year, we saw a significant period of sustained rains that caused over $2.5 billion in damage, said Green.
He was speaking at the media launch of GK Weather Protect held at the Ministry of Agriculture and Fisheries Hope Gardens offices in St. Andrew on July 20, 2021.
Green encouraged the farmers and fishers to sign up for the policies as the coverage was affordable, flexible and accessible with payments as low as $5,700 per season. Additionally, it gives them the ability to save for the proverbial rainy day.
GK Weather Protect was the answer to the call of farmers and fishers who wanted to be able to access financial services that can provide them with protection in their greatest time of need as well as help them to be resilient and to be able to face the inevitable weather challenges, Green stated.
Noting that globally between 2006 and 2016 agriculture absorbed more than 23 per cent of the total damage and losses caused by natural disasters, Green said Jamaica has been experiencing the impact of climate change with longer dry spells and shorter rainy seasons.
He made reference to winds associated with hurricanes Emily and Dennis that caused significant loss to the fisheries sector as fishers could not go out to sea ply their trade. In addition, it is estimated that fishers suffered over $90 million in damage following the passage of Hurricane Sandy in 2012.
Forms are available at GK Insurance locations islandwide and at the Rural Agricultural Development Authority offices.
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