together with local insurance company la positiva segura, philine oft wants to persuade farmers to signl niÑo insurance scheme. until now, there is only one insurance in peru against environmental damage in the agricultural sector. >> agriculture is possibly the riskiest business in the world because it depends on the weather. the farmers can neither predict not control the weather. >> that's why the el niÑo insurance is relatively expensive. the policy holder has to pay in 7% of the cost of the damage. in the event that the damage amounts to 10,000 euros, the farmers would be paying contributions of 700 euros a year. >> i think it's a process that we will have to involve the state in, at a later date. small farmers can't afford it by themselves. the premiums are still too high and the scheme pobably can't work without state support. valentÍn ruiz and the other banana producers won't be taking out insurance against el niÑo this year. they can't afford it. they've recently invested in 18 new dykes. they're a form of insurance too. >> if it floods here, the water level reaches up to here.