Towards the development of agricultural insurance in Ghana

Ghana Agricultural Insurance Pool (GAIP) is advocating the development of agricultural insurance. The contribution of this kind of coverage is likely to encourage investment in the sector and thereby improve food security.

Set up in 2011, GAIP is an insurance pool composed of 17 local insurers. Initially limited to drought risks, the cover proposed by the pool has been subsequently extended to cover forest fires, storms, diseases and parasites.

In Ghana, agricultural insurance is endowed with great potential for development. It remains, nonetheless, under-exploited because of the inadequacy of insurance products.