The Agricultural and Agrarian Insurance Board has announced a new insurance scheme to cover farm houses used for cattle, buffalo, goats, and pigs, aiming to safeguard farmers against climate and disaster risks.

Under the scheme, compensation of up to Rs. 2.5 million will be paid for damages caused by floods, storms, lightning, collisions, landslides, and wild animals. 

Farmers will be required to pay a basic premium of 2.5% of the insured amount, with an additional 1% premium to extend coverage to accidents caused by fire.

The Board said only farm houses maintained in line with standards set by the Department of Animal Production and Health will qualify for the scheme. 

Officials said that with increasing climatic and weather variations, securing insurance coverage has become an essential measure to manage risk and uncertainty in the livestock sector.

This initiative is expected to provide farmers with greater confidence to sustain their livelihoods while protecting investments in animal husbandry. (Newswire)

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The government has announced August as Pig Insurance Month to help revive the pig industry, which collapsed following the African Swine Fever epidemic.

The initiative follows a decision by the Presidential Task Force, with the Agricultural and Agrarian Insurance Board preparing a special insurance scheme for livestock farmers. 

The programme aims to encourage farmers to insure breeding pigs, including those maintained at commercial farms registered with the Department of Animal Production and Health.

The scheme provides coverage for deaths caused by African Swine Fever, sudden accidents, and other pig diseases. 

Breeding pigs aged between six months and 4½ years are eligible for annual insurance protection up to Rs. 200,000.

Farmers can obtain details of the scheme from district offices of the Insurance Board, veterinary offices, livestock development officers, or by calling the hotline 1918. (Newswire)

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The Agricultural and Agrarian Insurance Board has launched a new insurance scheme to provide coverage for coconut seedlings, aiming to safeguard cultivators against risks posed by natural disasters and wild elephants.

According to the Ministry of Agriculture, under the programme, a seedling insured for a premium of Rs. 40 will receive annual coverage of Rs. 550. For the maximum insured period of six years, cultivators can secure coverage worth Rs. 12,450 per seedling with a total premium of Rs. 875.

The scheme covers damages caused by drought, floods, heavy rainfall, strong winds, landslides, and elephant incursions, offering farmers protection against both seasonal and recurring threats.

Officials said the initiative is designed to help growers manage uncertainty and sustain the coconut industry without risk, ensuring long‑term stability for one of Sri Lanka’s key plantation sectors. (Newswire)

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The Education Ministry has updated the ‘Suraksha’ student insurance scheme, offering enhanced medical and life benefits for school students under a renewed agreement with the Sri Lanka Insurance Corporation General Ltd., signed on Thursday (09) under the patronage of Education Ministry Secretary Nalaka Kaluwewa.

Under the revised scheme, the inpatient benefit has been increased to Rs. 300,000 and outpatient treatment to Rs. 20,000, while coverage for critical illnesses now begins at Rs. 1.5 million. Accident coverage now includes Rs. 200,000 for permanent disability and up to Rs. 100,000 for temporary disability.

Life insurance benefits for students from families earning below Rs. 240,000 annually (up from Rs. 180,000) have also been expanded. Eligible families under the “Aswesuma” program will receive Rs. 75,000 per deceased parent or guardian, with a maximum of Rs. 225,000 per family.

Students suffering from long-term illnesses such as epilepsy, nephrotic syndrome, rheumatoid arthritis, lupus, ulcerative colitis, Crohn’s disease, and rheumatic heart disease are now eligible for outpatient benefits. Additional coverage includes Rs. 75,000 for scoliosis braces and Rs. 75,000 for hearing aids recommended by ENT specialists.

According to the Education Ministry, the new benefits apply to incidents occurring from September 1, 2025, onwards. (Newswire)

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Sri Lanka Cricket (SLC) says it has provided insurance cover for 350 first-class players and team support staff covering the year 2025/26 Major Club Season. 

Issuing a statement, the SLC said that, accordingly, 280 players and 70 team support staff of the 14 premier clubs competing in the 2025/26 season will benefit from this scheme. 

The initiative, introduced by the Executive Committee of Sri Lanka Cricket under the leadership of President Shammi Silva, ensures that every eligible player and support staff member receives enhanced protection and support during a major club season. 

Under this program, each player or support staff member is entitled to personal accident cover and medical cover. A critical illness cover is available for five players from all clubs. 

This marks the third consecutive year that SLC has extended this benefit to First-Class Clubs, with 20 players and five support staff members of each club becoming eligible. 

During the year 2023, SLC provided insurance cover for 550 players and support staff across 22 premier clubs and 450 players and support staff representing 18 premier clubs in 2024. 

“Through these measures, Sri Lanka Cricket aims to provide the best facilities for our first-class cricketers and support staff who are professionally engaged in the game. Offering a high standard of welfare benefits helps us maintain a strong and healthy pool of players at the premier level,” said Ashley De Silva, CEO of Sri Lanka Cricket. (Newswire)

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The Cabinet has approved a proposal to reduce the annual group insurance coverage for Members of Parliament from Rs. 1 million to Rs. 250,000, effective from October 9, 2025.

The proposal was presented by Minister of Public Security and Parliamentary Affairs Ananda Wijepala, aligning with a budget recommendation made earlier by President Anura Kumara Dissanayake to trim MP privileges.

The group insurance scheme was first introduced in May 2023, providing each MP with a maximum annual cover of Rs. 1 million. Since then, the benefits have been disbursed under this framework.

The revised coverage limit of Rs. 250,000 per MP will be applied to the upcoming insurance year starting in October. (Newswire)

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The Ministry of Transportation expects to introduce a legal framework within a month to allow victims of road accidents to obtain compensation without going to court, State Minister of Transportation Lasantha Alagiyawanna said. 

State Minister Alagiyawanna said the necessary regulations in this regard have already been prepared.

Through this new system, the party involved in the car accident will have the ability to get compensation of up to Rs.500,000 without going to court.

According to the nature of the accident, if the amount of Rs. 500,000 is insufficient for the victims, then there is the possibility of going to court and getting adequate compensation, he said.

The State Minister of Transportation further said that the Gazette notification in this regard will be issued soon. 

He added that this system is being introduced to provide relief to the affected parties, as it was difficult for the people involved in car accidents to seek compensation through insurance agencies. (NewsWire)

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A recent audit report reveals that at least 28 vehicles attached to the President’s Office are uninsured, it was reported. 

According to Lankadeepa, the audit report states among the vehicles 13 are high security vehicles, with each estimated to cost between Rs. 250 to 350 million.

The audit report further states that a sum of Rs. 20 million is required as insurance payment per vehicle annually due to the high value of the security vehicles.

An officer of the Presidential Secretariat has informed the Auditor General that the vehicles had not been registered for insurance considering the high costs. 

Stating that if they do not act according to the existing laws of the country, alternative policy decisions should be introduced to meet those needs, the audit report points out that the Presidential Secretariat has failed to do so. (NewsWire)

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The Insurance Regulatory Commission of Sri Lanka (IRCSL) has urged the public to purchase insurance policies only from registered insurance companies or registered agents. 

Issuing a notice, the IRCSL stated it has been notified of certain persons selling pass cards/ coupon cards/ discount cards to the public for a fee or offering discounts on certain insurance products. 

The IRCSL warned that these fraudulent activities were in contravention of the provisions of the Regulation of Insurance Industry Act, No 43 of 2000.

The public is requested to inform the IRCSL of such fraudulent activities via info@ircsl.gov.lk 

Urging the public to adhere to legal channels with regard to insurance policies, the IRCSL stated that the list of registered insurance companies and registered insurance brokering companies can be viewed on the IRCSL’s website; www.ircsl.gov.lk (NewsWire)

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The Agriculture and Agrarian Insurance Board has commenced providing new insurance coverage for goats alongside a number of activities related to the agricultural sector in Sri Lanka. 

Chairman of the Board M. M. B. Weerasekera informed the Minister of Agriculture Mahinda Amaraweera in this regard last week (30) while briefing about the future activities of the Agricultural Insurance Board.

According to the Sunday Observer, the government has made arrangements to provide insurance for goats provided under the program of granting 70,000 goats in the next five years.

The government has allocated Rs. 150 million this year for the program of providing goats free of charge, while an insurance scheme is to be introduced to grant insurance for the distributed goats.

Measures have been taken to insure goats which generally cost around Rs. 100,000 with an annual insurance contribution of Rs. 400 to provide maximum compensation in case of theft or sudden death of the goats.

The Chairman of the Agriculture and Rural Insurance Board further stated that the insurance scheme for goats has been introduced alongside the free insurance provided to the farmers for six types of crops. (NewsWire)

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