The Agricultural and Agrarian Insurance Board has introduced a new insurance scheme for coconut seedlings to support new coconut cultivation and protect growers from natural disasters.

The scheme covers losses caused by drought, floods, excessive rainfall, cyclones, landslides and wild elephant attacks. 

Growers can obtain Rs. 550 annual insurance cover per seedling for a Rs. 40 premium, while a six-year cover of up to Rs. 12,450 per seedling is available for a total premium of Rs. 875.