The Agricultural and Agrarian Insurance Board has introduced a new insurance scheme to protect fruit farmers against cultivation-related risks.

The scheme covers Department of Agriculture-recommended fruit crops, including pineapple, papaya and banana, at a premium of 7% of the basic insured amount.

Coverage includes crop losses caused by natural disasters, diseases, pests and insects, as well as damage caused by wild elephants.

Farmers will be eligible for compensation of Rs. 300,000 to Rs. 400,000 per acre in the event of crop damage.