Call us: (230) 260 4700
contact@sifb.mu
Location 18, Sir Seewoosagur Ramgoolam Street, Port-Louis
Sugar Insurance Fund BoardSugar Insurance Fund BoardSugar Insurance Fund BoardSugar Insurance Fund Board
  • Home
  • Overview
    • Constitution Of The Board
    • Establishment Of The Fund
    • Organisation Of Fund
    • SIFB
    • Useful Links
  • SIF Act
  • Crop Info
    • Synopsis
      • Crop Synopsis 2018
      • Crop Synopsis 2017
      • Crop Synopsis 2016
      • Crop Synopsis 2015
      • Crop Synopsis 2014
      • Crop Synopsis 2013
      • Crop Synopsis 2012
      • Crop Synopsis 2011
      • Crop Synopsis 2010
      • Crop Synopsis 2009
      • Crop Synopsis 2008
      • Crop Synopsis 2007
  • Operations
    • Information
      • Registration
      • Insurable / Non-Insurable Risks
      • Ranking
      • Compensation & Premium
    • Insurance
      • Inspection
      • Survey
      • Assessment
      • Other Services
    • Natural Disaster
      • Excessive Rainfall
      • Droughts
      • Cyclones
  • Publications
    • Annual Reports
      • Annual Report 2016 – 17
      • Annual Report 2015
      • Annual Report 2014
      • Annual Report 2013
      • Annual Report 2012
      • Annual Report 2011
      • Annual Report 2010
      • Annual Report 2009
      • Annual Report 2008
      • Annual Report 06 / 07
      • Annual Report 05 / 06
    • Newsletter
      • 2016
        • July – Issue 1
        • September – Issue 2
        • November – Issue 3
        • December – Issue 4
      • 2017
        • February – Issue 1
        • April – Issue 2
        • June – Issue 3
        • September – Issue 4
        • November – Issue 5
        • December – Issue 6
      • 2018
        • March – Issue 7
  • FAQ
  • News & Events
    • Our Commitment
    • Anti-Corruption Policy
    • Equal Opportunity Policy In Employment
    • Survey Report On Abandonment
    • Complaints Policy
  • Contact

Compensation & Premium

    Home Compensation & Premium

    WHEN COMPENSATION IS PAYABLE?

    In case of an event year, and on obtention of returns (canes supplied on behalf of planters) by millers, brokers, middlemen and co-operative credit societies together with extraction rates issued by the Cane Planters and Millers Arbitration and Control Board the sugar accrued to each insured is determined. The sugar accrued is then compared to the total insurable sugar (TIS) to assess any compensable loss payable around the end of February.

    DETERMINATION OF COMPENSATION

    Based on compensable loss varying from 55% to 80% (depending on the ranking of the insured) and the value of sugar of the insured, compensation is payable after the deduction of the first loss and sugar accruing.

    WHEN PREMIUM IS CLAIMABLE?

    Premium is claimable at the end of the harvest, i.e, on or before the 31st of December of any year after the period of Insurance Cover.

    DETERMINATION OF PREMIUM

    Based on the ranking of the insured, premium payable is equivalent to a percentage (varying between 2.75% and 4.4%) of the value of the total insurable sugar of that insured.

    SUGAR PRICE

    The determination of sugar price for insurance purposes by December of any year enables the Fund to pay any compensable loss to insured during the following year as early as possible (usually by the end February/early March). Thus the final sugar price which is determined by the end of May of the following year may slightly differ with the sugar price for insurance.

    PAGES

    • Useful Links
    • News & Events
    • Contact

    ANNUAL REPORTS

    • Annual Report 2017 – 18

      Loading… Taking too long? Reload document | Open in new tab

      8 July, 2020
    • Annual Report 2016 – 17

      Loading… Taking too long? Reload document | Open in new tab Download

      23 July, 2018

    CONTACT DETAILS

    A: 18, Sir SSR Street, Port Louis
    P: (230) 260 4700
    F: (230) 208 2634
    E: contact@sifb.mu

    ©Copyright 2020 Sugar Insurance Fund Board. | All Rights Reserved
    • Home
    • Overview
      • Constitution Of The Board
      • Establishment Of The Fund
      • Organisation Of Fund
      • SIFB
      • Useful Links
    • SIF Act
    • Crop Info
      • Synopsis
        • Crop Synopsis 2018
        • Crop Synopsis 2017
        • Crop Synopsis 2016
        • Crop Synopsis 2015
        • Crop Synopsis 2014
        • Crop Synopsis 2013
        • Crop Synopsis 2012
        • Crop Synopsis 2011
        • Crop Synopsis 2010
        • Crop Synopsis 2009
        • Crop Synopsis 2008
        • Crop Synopsis 2007
    • Operations
      • Information
        • Registration
        • Insurable / Non-Insurable Risks
        • Ranking
        • Compensation & Premium
      • Insurance
        • Inspection
        • Survey
        • Assessment
        • Other Services
      • Natural Disaster
        • Excessive Rainfall
        • Droughts
        • Cyclones
    • Publications
      • Annual Reports
        • Annual Report 2016 – 17
        • Annual Report 2015
        • Annual Report 2014
        • Annual Report 2013
        • Annual Report 2012
        • Annual Report 2011
        • Annual Report 2010
        • Annual Report 2009
        • Annual Report 2008
        • Annual Report 06 / 07
        • Annual Report 05 / 06
      • Newsletter
        • 2016
          • July – Issue 1
          • September – Issue 2
          • November – Issue 3
          • December – Issue 4
        • 2017
          • February – Issue 1
          • April – Issue 2
          • June – Issue 3
          • September – Issue 4
          • November – Issue 5
          • December – Issue 6
        • 2018
          • March – Issue 7
    • FAQ
    • News & Events
      • Our Commitment
      • Anti-Corruption Policy
      • Equal Opportunity Policy In Employment
      • Survey Report On Abandonment
      • Complaints Policy
    • Contact
    Sugar Insurance Fund Board