BAKU, Azerbaijan, September 2. The Agrarian Insurance Fund (AIF) of Azerbaijan carried out nearly 30,000 manat ($17,647) in insurance payments for fire-related risks from 2020 through 2024, the Fund told Trend.
The Fund noted that insured farmers from 16 districts filed 21 claims over crop field fires and related damages. Investigations confirmed that 16 incidents caused damage to farmlands, resulting in compensation of 28,762 manat ($16,919) for losses covering 122 hectares of fields.
The Azerbaijan Agrarian Insurance Fund is a government-backed initiative established by presidential decree in 2019 to provide non-profit agricultural insurance for crops, livestock, and aquaculture, protecting farmers from risks like natural disasters and diseases. The state subsidizes 50% of the insurance premiums, making it more affordable for farmers to protect their livelihoods. The fund aims to increase financial resilience in the agricultural sector
