(MENAFN- Muscat Daily) Muscat- The Capital Market Authority (CMA) will launch on Monday agricultural insurance in Oman under the auspices of Dr Fu'ad bin Ja'afar al Sajwani, Minister of Agriculture and Fisheries in the presence of representatives of agriculture and insurance sectors' stakeholders.
The agricultural insurance policy will provide safe investment environment for agriculture and animal wealth by providing the insurance cover that protects farmers against risks and maintains good levels of production.
The CMA along with the Ministry of Agriculture and Fisheries, Oman Chamber of Commerce and Industry (OCCI), Oman Reinsurance Company and Oman Insurance Society studied the possibility for launching policies for agriculture and animal wealth sector and identifying the feasible suitable coverage.
The launch of the agricultural insurance products follows meetings and consultations with farmers. An awareness committee toured a number of governorates in the sultanate to highlight the articles of the agriculture insurance policy and the proposed underwriting mechanism before the official launch of the agricultural insurance products.
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