Economy
Posted: 1 week ago

Compensation for Beneficiaries of State Agricultural Insurance Program Starts

"The beneficiaries involved in the state agricultural insurance program have started to receive compensation for the damage caused by the hail in Kakheti region.

Insurance companies will complete the calculation of the damage caused by the disaster as soon as possible," said Natalia Kharatishvili, the head of the Operations Department of the Rural and Agricultural Development Agency.

The information is spread by the Ministry of Agriculture.

"The state is constantly improving the conditions of agro-insurance, within the framework of the anti-crisis plan of agriculture, the policy is valid for 3 years.Tthe state finances 70% of the insurance policy for all crops and 50% for vines. We call on farmers to insure their crops," Natalia Kharatishvili said.

As Irakli Kadagishvili, the party leader, noted, despite the fact that the anti-hail system works effectively, exceptions are made. The good thing about insurance is that in the event of such an exception, the farmer is protected.

The state program of agricultural insurance is open to individuals or legal persons who own, use or actually own no more than 5 ha (in case of wheat crop insurance, not more than 30 ha) agricultural land.

As of July 2020, the number of policies issued under the state agro-insurance program is 15,422, with more than 15,000 hectares of land insured, which is 24% more than in the same period last year. The cost of the insured crop exceeds 140 million GEL.