Ceylinco introduces Hasthi Uvaduru Rakawaranaya for farmers

INSURANCE: Ceylinco Insurance has introduced an insurance policy aimed at minimising the impact of the Human -Elephant Conflict prevalent in Sri Lanka in conjunction with the University of Colombo, the University of Peradeniya and Virje University of the Netherlands.

The concept was developed by the three universities, collating years of research and supported technically by Ceylinco Insurance.

The new policy identified as the Hasthi Uvaduru Rakawaranaya, will be instrumental in lessening the Human - Elephant Conflict in the island and will rehabilitate farmers and individuals, whose lives and livelihoods are at risk.

The Hasthi Uvaduru Rakawaranaya will also focus on conserving elephants and safeguarding their habitats.

The new policy entails several benefits to farmers and their families, including a cover of Rs. 200,000/- in the event of the death or permanent disablement of the insured due to an elephant attack, a cover of Rs. 50,000/- in the event of the death or permanent disablement of the spouse due to an elephant attack, a cover for the secondary and tertiary education of the insured's children, a cover of up to Rs. 20,000/- to compensate damages to the crops of the insured due to an elephant attack and a cover of up to Rs. 25,000/- to compensate damages to the insured's home due to an elephant attack.

Furthermore, the profitability of the scheme will be reviewed annually and a 20% portion of the profits will be channelled towards elephant conservation activities recommended by community organisations.