Agriculture Insurance: Government Increase Coverage under PMFBY
As the Fasal Bima Yojna allocation is raised to Rs. 13,240 crores next fiscal, from Rs. 5,500 crores now, general insurance companies are in for a bumper revenue growth next year.
Agriculture Insurance: Insurance Raised For Agriculture Sector
Finance Minister Arun Jaitley focussed his promises on helping farmers to access increased credit while farmers were disproportionately hit by demonetisation and he also said the government would channel more money for irrigation.
Agriculture Insurance: Kerala Government Yet to Issue notification for WBCIS
Kozhikode, Kerala: For the ongoing Rabi season which could have benefitted thousands of farmers, the state agriculture department has not issued a notification for the weather based crop insurance scheme (WBCIS), even as the state is staring at its most severe drought in recent years.
Agriculture Insurance: Insurance Cover to Chilli Crop in this Season
The district administration has brought some cheers to the Chilli growing farmers, in this season allowing them to insure their crops, after the more than one lakh paddy cultivating farmers became crestfallen, losing their crops following failure of north east monsoon.
Agriculture Insurance: Farmers should Pay Premium under Crop Insurance Scheme
Under Prime Minister’s Crop Insurance Scheme which is being implemented since July 21, farmers in Virudhunagar district in Tamil Nadu have been advised to pay premium for their crops. Under the scheme, New India Insurance would undertake crop insurance in the district.
Agriculture Insurance: Jharkhand Registering a Quantum Jump for Crop Insurance
Ranchi: For covering more than 8.5 lakh farmers under the Pradhamantri Fasal Bima Yojana (PMFBY), Union agriculture minister Radha Mohan Singh praised chief minister Raghubar Das.
Agriculture Insurance: Due to Good Rain, Fewer Farmers Opt For Crop Insurance.
Mumbai: According to Agriculture department data, compared to last year the number of farmers who have opted for crop insurance has dwindled considerably. A good monsoon in most parts of the Maharashtra is helping the agriculture sector in recovery.
Agriculture Insurance: From Next Year, JK Government to Implement Crop Insurance Scheme
Minister for Agriculture production G N Lone Hanjura informed that from next year, Jammu and Kashmir will implement crop insurance scheme "Pradhan Mantri Fasal Bima Yojana" (PMFBY).
Agriculture Insurance: CAG will Audit Crop Insurance Schemes
To examine the efficiency of crop insurance in providing succour to farmers who suffer damage to their crops, the Comptroller and Auditor General (CAG) has decided to conduct a performance audit of agricultural crop insurance schemes.
Govt. allowed general insurers to participate in arm Insurance Schemes
Mumbai : Now four public sector general insurers are also allowed to participate in farm insurance schemes -- the Pradhan Mantri Fasal Bima Yojana (PMFBY) and Unified Package Insurance Scheme.
Agriculture Insurance: Farmers Get Rs. 4205 Crores through Crop Insurance Scheme
MUMBAI: in a single year through the crop insurance scheme, Maharashtra Farmers have received as much as Rs 4205 crores. Chief Minister Devendra Fadnavis said that, in the preceding 15 years, farmers had received Rs 4,737 crores insurance for crop damage.
Agriculture Insurance: Kisan Mela on Crop Insurance Scheme by KVK
A kisan mela was organised by the Krishi Vigyan Kendra (KVK) of Guru Angad Dev Veterinary and Animal Sciences University (GADVASU) on the Pradhan Mantri Fasal Bima Yojna at Barnala.
Agriculture Insurance News: More than 50,000 Gujarat Farmers Buy Crop Insurance Online
New Delhi: Because of droughts, Gujarat farmers have started taking crop insurance seriously. More than 50,000 of farmers registering for the new crop insurance cover given by Pradhan Mantri Fasal Bima Yojana (PMFBY) via the state portal.
Agriculture Insurance News: Crop Insurance Enhances the Agri Industry
The Centre’s Pradhan Mantri Fasal Bima Yojana was the biggest ever government push to compensate farmers against damage to crops on account of calamities, says Agriculture and Farmers Welfare Minister Radha Mohan Singh.
Agriculture Insurance Comparision
|Company Name||Insurance Name||Premium||Eligibility||Risk Cover|
|Agriculture Insurance Company of India (NAIS)
||National Agricultural Insurance Scheme
||50% subsidy in premium is allowed in respect of Small & Marginal farmers
||All farmers growing insurable crops and availing seasonal agricultural operations loans from banks/PACS are compulsory covered under this scheme by the banks/PACS
whereas non borrowing farmers growing insurable crops can also avail the benefit.
|Comprehensive risk insurance will be provided to cover yield losses due to:
1. Natural Fire and Lightning
2. Storm, Hailstorm, Cyclone, Typhoon, Tempest, Hurricane, Tornado etc.
3.Flood, Inundation and Landslide
4.Drought, Dry spells
5. Pests/ Diseases etc.
|HDFC Ergo General Insurance Company Limited
||Premium chargeable depends on various factors such as the type of crop, location, historical weather data, cost of cultivation in the specified area and the acreage under cultivation
||Agricultural/ non-agricultural seasonal operations, whose repayments are affected by weather conditions
||1. Covers the diminished agricultural output/yield resulting due to deviation from optimum weather requirement of a crop within a specific geo graphical location and specified time period
2. Increased operational costs of agricultural or non-agricultural economic activity resulting from deviation of Observed Weather index from Strike index
|IFFCO-TOKIO General Insurance
||Kisan Suvidha Bima
||A single Package Policy
||Single Package Policy to farmers and rural householders principally involved in agriculture,
||overs the stocks of farm produce (grain and/or seeds of all kind) meant for sale and lying in the insured premises against the risk of Fire and Allied Perils and Burglary and House Breaking Perils.
|IFFCO-TOKIO General Insurance
||Pashu Dhan Bima Yojana
||Market value varies from breed to breed, area and from time to time. Examining Veterinarian’s recommendation shall be considered proper guide for acceptance of Insurance/settlement of claims.
||The Pashu Dhan Bima Yojana is designed to provide insurance cover to indigenous & exotic cattle owned by individuals, various financial institutions, dairy farms, cooperatives and cooperative dairies etc.
||The policy shall give indemnity only for death of cattle due to accident or any other fortuitous Circumstances, diseases (Inclusive of Rinderpest, Black Quarter, Haemorrhagic Septicaemia, foot and mouth disease subject to vaccination against these diseases), Surgical Operations, Earthquake
|Agriculture Insurance Company of India
|Rain Fall Insurance Scheme For Coffee (RISC)
||Premium calculated based on type of coffee crop, geographical area, the coverage sought, the past rainfall pattern in specified geographical area
||Available in coffee growing areas of Karnataka, Kerala & Tamil Nadu and covers both Robusta and Arabica
||Compensate the insurance against the likelihood of diminished coffee output/ yield resulting from shortfall/ excess in in actual rainfall for different coverage options