BAKU, Azerbaijan, May 5. The insurance payments to insured farmers and farms in Azerbaijan since the beginning of activities by the country's Agrarian Insurance Fund has totaled 15 million manat ($8.8 million), Trend reports via the Ministry of Agriculture.
The agrarian insurance mechanism provided with state support in Azerbaijan was created based on the model of the Turkish TARSIM system. The main feature of the agrarian insurance mechanism is the provision of 50 percent state support for insurance premiums.
Thanks to the fact that half of the insurance premiums are covered by the state, farmers can insure their farms against numerous risks for a small fee.
Crop farming, livestock breeding and aquaculture (fishery) farms are insured through agrarian insurance.
