Agriculture Insurance

Agriculture Insurance

To provide financial compensation to the farmers for losses in crop due to non- preventable ricks including natural calamities  , pests and diseases and adverse weather conditions , government  is implementing four Central Crop Insurance Schemes with are: 1.National Agricultural Insurance Scheme (Rabi 1999-2000) To provide financial support to the farmers in the event of failure of crops as a result of natural calamities, pests and diseases. The scheme is available to all the farmers – loanee & non- loanee irrespective of their size of holding.  The Scheme envisages coverage of all the food crops (cereals, millets and pulses), oilseeds and annual commercial / horticulture crops, in respect of which pest yield data is available for adequate number of years. The premium rates are ranging between 1.5 per cent and 3.5 per cent of sum insured for food and oilseed crops. 2. Modified NAIS  Modified NAIS : Based on the recommendations of a Joint Group and views /comments of various stakeholders , proposal of Modified National Agricultural Insurance scheme has  been approved by Government of India for implementation pilot basis in 50 districts.

3. Pilot Weather Based Crop Insurance scheme (WBCIS) (Kharif 2007) WBCIS is indented to provide insurance protection to the farmers against adverse weather incidence, such as deficient and excess rainfall, high or low temperature, humidity etc.  Which are deemed to impact adversely rates of production.  The WBCIS is based on actuarial rates of premium but to make the scheme attractive, premium actually charged from farmers have been restricted to at par with NAIS. 4. Coconut Palm Insurance Scheme (CPIS) CPIS is launched on pilot during years 2009-10, 2010-11 and 2011-12 in the selected areas of Andhra Pradesh, Goa, Karnataka, Kerala, Maharashtra, Oldisha, West Bengal and Tamil Nadu to cover Coconut palms. The Sum Insured is based on the Average input cost of the plantation and age on the specific plant. The Agricultural Insurance Company of India LTD. is the implementing agency of the scheme. The CPIS is being administered by the Coconut Development Boart.