Agricultural business is difficult to insure in West Africa mainly because

Assessment: WAEC SSCE - Agricultural Science - 2008 (Objective) Subject: Agricultural Science

Question 1 Report

Agricultural business is difficult to insure in West Africa mainly because
Answer Details
Agricultural business is difficult to insure in West Africa mainly because agricultural production is highly risky. Agricultural production is often affected by unpredictable factors such as climate change, pests, and diseases which can lead to a significant decrease in yield and financial loss. This high level of uncertainty makes it difficult for insurers to predict potential losses and determine appropriate premiums. As a result, agricultural insurance in West Africa is often underdeveloped, and many farmers are left without adequate protection against the risks they face.
Read lesson note on Agricultural Extension (WAEC)
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