Agriculture minister encourages more applications for GK Protect parametric insurance

Thirty women farmers are in the process of receiving insurance payouts for damages suffered from Hurricane Melissa under a parametric policy secured by the Jamaica Network of Rural Women Producers (JNRWP) with funding from CARE International. 

The announcement was made on November 7 at an official handover ceremony held at GK Insurance’s head office in New Kingston, where the insurer disclosed that over J$2 million will be given from the GK Weather Protect parametric policy. 

All 30 women insured under the policy will receive payouts following the catastrophic impact of category five Hurricane Melissa, which made landfall on October 28. Of this group, twelve farmers whose locations recorded category five conditions are receiving 100 per cent of their insured amount, as the policy’s dual triggers of excess rainfall and high wind speeds were met.

The remaining farmers will receive partial payouts based on the indexed thresholds for their areas.

Shifting winds of Hurricane Beryl

The payouts, according to JNRWP President Tamisha Lee, represent a decisive shift after Hurricane Beryl last year, when devastation left many producers with no financial safety net. Having such an experience prompted many women farmers to swiftly secure insurance coverage.

“It was important for both the Network and CARE to ensure that our post-Beryl recovery support project was not just about temporary relief, but about building genuine, long-term financial security” she noted.

“This money is not a handout; it is a catalyst for continuity and growth,” Lee added.

The policy purchased from GK General Insurance Company Limited (GK Insurance) for JNRWP members stipulates that once the agreed thresholds are met, payouts are automatically activated. As such the farmers can access funds quickly to clear debris, replace inputs and restart production.

Caribbean humanitarian response lead at CARE International, Jonathon Arogeti, emphasised the importance of the policy having a speedy and predictable payout.

“I am heartened that so quickly after the storm, these policies are getting cash into the pockets of those who need it most, so it can help them not just to survive the effects of the storm, but really to thrive, rebuild and recover,” he stated

A new standard of protection

Beyond the immediate relief, the initiative signals a new standard for how rural women producers can be protected in a changing climate. As hurricanes grow stronger and less predictable, the organisation is working alongside development partners and policymakers to promote similar mechanisms, so that rural women are not left to shoulder climate losses alone, but instead, are equipped to recover quickly and continue securing Jamaica’s food supply.

Already, JNRWP and CARE intend to build on this first cohort of thirty insured farmers, expanding access to climate-smart tools and risk protection across its network.

At the same time, GK Insurance, with its ‘GK Weather Protect’ parametric policy, is an ongoing mission to ensure the long-term support of farmers’ livelihoods and Jamaica’s food security with strategic partnerships to protect them with insurance coverage.  

To date, GKGI has partnered with the Ministry of Agriculture, Fisheries, and Mining, which, in 2021, at the launch of the GK Weather Protect crop insurance product, invested the cost of insurance premiums for 1,000 farmers to receive cash coverage to support farmers and fisherfolk after a natural disaster occurs.

Minister Floyd Green’s endorsement

Given the ministry’s support of the policy, it was apt that portfolio minister Floyd Green encouraged more farmers to apply for coverage. During another handover ceremony on November 12 at the Ministry of Agriculture’s office at Hope Gardens in St Andrew, he endorsed the parametric insurance programme.

Green pointed out that weather disasters such as Hurricane Melissa are now “part of the course” in the agricultural sector due to climate change, and so, farmers and fishers should ensure they are adequately prepared for these eventualities.

“We can’t stop them, but we can prepare for them (disasters). Ten years ago, eight years ago, we wouldn’t be having a ceremony of this nature because at that time, there was no facility for farmers to take the necessary steps to prepare themselves against these inevitable weather-related events. The fact that we now have a facility offered by GK Insurance is something that we should all applaud,” he emphasised.

An additional 150 farmers from nine parishes received payouts. The agriculture minister indicated that the Government is directly supporting the programme by providing J$7.5 million to assist farmers through subsidising parametric insurance coverage.

He added that the Government is willing to support interested farmers by covering the base rate for this policy, thereby removing barriers to entry. To this end, Minister Green charged the Rural Agricultural Development Authority and GK Insurance with implementing measures to recruit farmers and fishers to the programme in tandem with relief and recovery efforts.

“As we go out to deliver our slew of recovery assistance, let us also sign up [farmers], as they come to collect our seeds and fertilisers, for the insurance programme so that at least we know there is a layer of protection that can help them if any other weather event should befall us,” he stated.

Commenting on the efficacy of the programme, Minister Green shared that payouts have been made for every major weather event since 2022. In the first year of its existence, 817 farmers received payouts, while 387 received payouts in 2024.