BAKU, Azerbaijan, Sept.13
By Tamilla Mammadova – Trend:
As of September 11, 2020, up to 17,000 insurance policies were issued in Georgia under the state Agricultural Insurance Program, which is 15 percent more than in the same period last year, Trend reports via the Rural Development Agency.
According to the agency, up to 20,000 hectares of land are insured, which is 49 percent more than in the same period last year.
The value of the insured crop exceeds 159 million lari ($51.4 million).
As reported, all individuals or legal entities who use or actually own no more than 5 hectares of agricultural land can participate in the agricultural insurance program.
This limitation does not apply to agricultural cooperatives. In the case of an agricultural cooperative, the premium payable by the agency to one insurer may not exceed 50,000 lari ($16,187).
As of July 1, 2020, more than 14,000 policies have been issued under the Agricultural Insurance Program. The volume of insured land was 15 hectares, and the value of the insured crop exceeded 134 million lari ($43.3 million).
The state agricultural insurance program has been operating since 2014. To date, over 6 years of the program, compensation paid to farmers amounted to 38.25 million lari ($12.3 million).
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