Minister for Agriculture Hon. Alfred Prospere has announced that the government has reached an agreement with GK Insurance Limited to set up a landmark insurance scheme for registered banana and plantain farmers in Saint Lucia.
The government will contribute a one-time payment of $1 million to fund the insurance plan, which provides eligible farmers coverage for wind damage caused by Tropical Storms and Hurricanes.
Registered farmers seeking to invest in this landmark policy would be required to make contributions based on predefined criteria by the insurer. More than 1,000 registered farmers stand to benefit.
Natural disasters and climate hazards can wipe out the hard work of our banana farmers in an instant. Under the Pierre-led Administration, our farmers will have access to a reliable insurance policy that will support their rebuilding efforts every step of the way.
Establishing this insurance scheme further demonstrates the government’s commitment to protecting the livelihoods of our farmers while boosting climate resilience and improving food security in Saint Lucia.
The official signing ceremony for the insurance scheme between the Government of Saint Lucia and GK Insurance Limited takes place on July 18, 2025.
