OCCI Food Security Committee discusses the importance of developing agricultural insurance

Muscat: The OCCI Food Security Committee discussed the importance of agricultural insurance in light of challenges related to climatic conditions and epidemics, and the risks they impose on agricultural activity. The Committee stressed the need to develop suitable insurance products with flexible terms that contribute to protecting farmers, ensuring the continuity and sustainability of production, and strengthening food security. This came during the Committee’s meeting, chaired by Eng. Saleh bin Mohammed Al Shanfari, Chairman of the Committee, in the presence of a number of its members, at the Chamber’s headquarters in Muscat.

The Committee recommended organizing a specialized seminar on agricultural insurance in cooperation with a number of relevant entities, as well as holding a public session on entrepreneurship in the agricultural sector. The Committee also reviewed various models of agricultural insurance products, with reference to the role of food and agricultural associations in facilitating insurance procedures and contributing to the organization of suitable compensation mechanisms.