# The Land Bank Insurance Company has announced the expansion of its pilot index insurance with the launch of Area-Yield Index Insurance. The product protects crop farmers against major yield losses caused by drought, floods, or pests. Unlike traditional insurance, payouts are based on district-level data rather than farm assessments, ensuring quicker compensation. Developed with the International Finance Corporation and CelsiusPro, the Area-Yield Index Insurance will initially cover smallholder maize and soya bean farmers in five provinces.
Land Bank expands climate insurance for farmers