Tobacco is the single major foreign exchange earner and backbone of the economy, contributing up to 61 percent of total merchandise exports and employing a reasonable percentage of the country’s population. However, tobacco farming is inherently a risky business.
Tobacco farmers face a variety of natural, social and market related risks. Given the uncertainty of their income each year, tobacco farmers must constantly worry about their ability to repay debt, meet overhead costs, leaf damage and in many cases, even their ability to meet living costs of their families.
What is it?
Mtetezi, as the name suggests, is a vibrant package policy that protects tobacco farmers against loss or damage to this tobacco leaf:
- Whilst growing in the field because of hail, windstorm, floods and physical action of excessive rainfall.
- Whilst in the process of picking, stringing, curing, bulking, grading, re-ordering and in transit until finally delivered to auction floors, because of fire, malicious damage,
- lightning, strikes, riots, theft and many more risks.
Other property covered
- Curing barns
- Curing barns
- Grading sheds
- Store rooms
- Bailing sheds
- Manager’s house
- Estimated gross proceeds
- Hectares of the field
- Type of tobacco
- Cover commences after transplanting seedlings through to the final delivery at auction holdings floors.
Key benefits of Mtetezi
Easier access to Finances
How to buy the policy
- Visit any NICO General Insurance company offices or any of the authorised insurance brokers
- Complete proposal form (application form)
- Hand the form in for a quotation
- Wait for feedback from the officer
How to make a claim
In the first instance, claims or any circumstance that may lead to potential claim should as soon as practically possible be notified to:
|NICO General Insurance Company,
P. O. Box 2592, Blantyre, Malawi.
Or contact your authorised insurance broker.
You will be required to supply the following information:
- Details of event which has given rise to claim.
- Your policy details such as policy number and name.
- Extent of damage or loss.
- Details of other insurance(s) covering the same event.
- Information and proof in support of the claim.
- You may make no admission or statement of liability or make any offer if any other party or parties are involved.