Fri, 26 Feb 2021 Today's Paper

Novel insurance scheme launched for coconut growers

20 February 2021 02:41 am - 0     - {{hitsCtrl.values.hits}}

A A A

Ceylinco Insurance PLC, Coconut Growers Association and Coconut Cultivation Board officials at the press conference that announced the new insurance scheme for coconut plantations
Pic by Pradeep Pathirana
 

 

  • Initial premium to be Rs.60 per tree; compensation in excess of Rs.1000 to be paid 
  • 70mn coconut trees grown in 1.1mn acres in Sri Lanka; only 40mn tress high yielding

By Yohan Perera
Ceylinco Insurance PLC together with the Coconut Growers Association of Sri Lanka and Coconut Cultivation Board (CCB) has launched a novel insurance scheme to cover coconut plantations.


Ceylinco Insurance Deputy General Manager Deshapriya Wickramarathne told a press conference that the new scheme of insurance has been designed in line with the policy of the company to move away from traditional insurance schemes.


Ceylinco Insurance Senior Manager Corporate Accounts Leonard Solomon said coconut trees would be covered against disasters such as cyclones, droughts, pests, animals such as monkeys and diseases, 
under this new scheme. 


“The owner of a coconut land will have to pay an initial premium of Rs.60 per tree, depending on its age. The annual premium will increase as the trees get older. Compensation in excess of Rs.1000 will be paid in the event trees are destroyed. The cost that has to be incurred to replant a new tree will be more than Rs.1000 and the policy covers this cost,” he said.


“We intend to implement this scheme islandwide,” he added.  
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. 


“Coconut is grown in 1.1 million acres in Sri Lanka while there are 70 million tress in the country in total. However, only 40 million tress give a high yield. One of the major issues faced by the landowners is maintaining the under plantation. It is difficult to maintain the new plants for various reasons. This new scheme will help us solve this problem,” he said.


The scheme will be initially available to the members of the Coconut Growers Association but those who join the association can enter the insurance scheme, according 
to Samarakoon.

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

 

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




The Man Behind Moves to Form the “BJP” in Sri Lanka

The flower bud is the accredited electoral symbol of the Sri Lanka Podujana P

Is it a giant leap backwards in the name of patriarchy?

154 years after the Sri Lanka Police was established, an Acting Woman Deputy

DIG Bimshani talks about patriarchal beliefs and perceptions towards women

On September 21, 2020 The National Police Commission granted approval to prom

Ecocide – Another pandemic in disguise

COVID-19 wasn’t the only pandemic that struck Sri Lanka in 2020. A mass sca

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.