This Act provides for compulsory insurance and contractual insurance by banana growers against damage caused to banana cultivations by windstorm and for financial aid for such insurance to be granted by the Banana Board in accordance with provisions of this Act. Every banana grower shall be statutorily insured under this Act in respect of assessed acreage of banana cultivation against loss incurred through hurricanes, tornados, cyclones or other atmospheric disturbances. Banana growers may also contract insurance for replanted or new cultivations and receive financial aid for such insurance. The Act sets out the conditions for banana growers to qualify for financial aid. The Banana Board is the successor of the Banana Industry Insurance Board. There shall be levied, for purposes of this Act, a cess upon the insurance weight of exported bananas or bananas purchased for export, whether subsequently exported or not.
Jamaica · 1953-10-01