Insurance

Inspection Survey Assessment Other Services

IDENTIFICATION OF NON-SECURED RISKS

SIFB

Staff of the Fund (inspectorate division) undertakes periodical inspections (a minimum of three annually) to assess the condition of land under cane cultivation. Competitive weeds, gaps between stools, bad fertilization,etc are classified as adverse items. Planters are advised of the condition of their cane plantations in case of existence of any adverse item. The planter can request for a re-inspection of his fields in case of disagreement. The adverse item thus recorded reduces compensation payable in case of event years.

PRE REGISTRATION INSPECTION

Losses arising due to competitive weeds, distance stools(Gappiness), improperly fertilisation, etc ..are not compensable during an event year. A Pre Registration Inspection starts by the end of January to end March, i.e. before the Registration

POST REGISTRATION INSPECTION

Post Registration Inspection starts on/after the Registration period, in practice June to August

POST HARVEST INSPECTION

A Post Harvest Inspection is undertaken as from October of a year up to the end of harvest. This inspection confirms the harvested extent

FIRE INSPECTION

Insured or his representative must report within 10 days any fire occurrence in sugar cane field to the SIFB. Fields damaged by fire are subsequently inspected and data recorded.

WHY FIELD SURVEY?

The determination of the potential value for insurance purposes in any given year for any insured is tributary to the extent of land under cane cultivation. Variations in extent of land under cane cultivation in any crop year is determined and recorded. The Fund periodically carries out inspection to identify changes and through use of appropriate technologies, cane fields are surveyed, useful data collected and recorded in our database. Plans drawn up are useful tools and are used by institutions for other specific purposes.

On declaration of an “Event Year” in any particular factory area insureds having suffered a loss as a result of one or more of the events are compensated for losses as per provisions of the Act (insurance policy). The Board endeavors to settle all compensable losses as soon as possible. Planters, Metayers and Millers are not required to make a claim.

However Millers, Brokers, Cooperative Credit Societies and Middlemen are required and requested to forward returns of Insureds ASAP. In principle such settlement is done in February on obtention of crop returns, millers’ returns and Control Board’s return.

Any Insured who disagrees with the amount of compensation paid in an “Event Year” may formally request for a re-assessment of compensation in respect of loss suffered within 9 months from the date of the declaration of the “Event Year”.

AGRICULTURAL LOAN

Cane planters/metayers applying for agricultural loans with Financial Institutions are upon request issued certificates free of charge, with a view to facilitate the processing of such application.

REGISTRATION CARDS

SIFB Registration Cards issued annually, can be presented to other service providers such as FSC, NTA, SPMPC, DBM Ltd, etc to facilitate the obtention of cane setts, payment of reduced road tax for dual purpose vehicles, bulldozing of land (preparation of land), etc.

SUBSIDY – NEW PLANTATION

Small planters/metayers having new cane plantations are on request issued free of charge certificates with a view to facilitate the processing of application for subsidy obtainable from the Farmers Service Corporation.