{
  "id": 11322076,
  "title": "Experts Identify Affordability, Trust Deficit as Reason Why Small Holder Farmers Shun Insurance",
  "url": "https://urgent.news/2026/10/02/experts-identify-affordability-trust-deficit-as-reason-why-small",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-02T01:06:00.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/10/02/experts-identify-affordability-trust-deficit-as-reason-why-small-holder-farmers-shun-insurance/"
  },
  "original_language": "en",
  "account": "Experts have pinpointed affordability and trust deficit as the primary deterrents preventing smallholder farmers from embracing insurance. This assessment was made at the 9th edition of Agriculture Summit Africa (ASA) 2026. During a panel discussion titled “Climate Risk Management for Sustainability: Future-Proofing Africa’s Food System,” Ayoola Fatona, Leadway Assurance's Global Head of Agricultural Risk Solutions, elaborated on these issues. Fatona stated that to tackle these challenges, Leadway often collaborates with organizations that share its dedication to enhancing the livelihoods of smallholder farmers and bolstering their resilience against climate-related risks. Through these partnerships, the firm has managed to secure funding to pre-finance insurance premiums, ensuring farmers are covered from the start of the planting season, when their risk exposure peaks. The summit, organized by Sterling Bank, centered on enhancing food production, financing, processing, technology, trade, and policies to bolster Africa's agricultural sector, foster job creation, strengthen intra-African trade, and establish the continent as a formidable global food power. Leadway's goals resonate with their mission to fortify the agricultural industry by offering risk protection for farmers, agribusinesses, and investments throughout the agricultural value chain. According to Fatona, in the 2025 wet season alone, Leadway's alliances enabled them to raise more than $1.2 million to extend insurance coverage to over 400,000 farmers. The underwriting company expressed intent to build upon this achievement.",
  "summary": "Ebere Nwoji Insurance experts have highlighted affordability and trust deficit as two key barriers to insurance adoption among smallholder farmers. The experts identified these at the 9th edition of Agriculture",
  "key_points": [
    "Affordability and trust deficit deter smallholder farmers from insurance.",
    "Leadway Assurance collaborates to pre-finance insurance premiums.",
    "$1.2 million raised for 400,000+ farmers in 2025 wet season."
  ],
  "editors_take": "Efforts to insure smallholder farmers against climate-related risks gain momentum as partnerships enable premium pre-financing, bridging the affordability gap and building trust in insurance offerings.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}