Agriculture
Insurance Company of India (AIC), 10 private General Insurance Companies namely,
ICICI-Lombard, IFFCO-TOKIO, HDFC-ERGO, Cholamandalam-MS, Tata-AIG, Future
Generali India, Reliance, Bajaj Allianz, SBI and Universal Sompo General
Insurance companies for implementation of crop insurance programme. Share of
AIC in terms of coverage of farmers has decreased during last three years.
Salient
features of National Crop Insurance Programme (NCIP)
The salient features of the National Crop
Insurance Programme (NCIP) are :
Modified National Agricultural Insurance
Scheme (MNAIS)
- actuarial
premium rates are charged with a provision of subsidy upto 75%, which is shared
by the Central and State Governments on 50 : 50 basis;
- entire
liability of claims is on the implementing insurance companies;
- it is
compulsory for loanee farmers and optional for non-loanee farmers;
- risk coverage
for pre-sowing/prevented sowing and post harvest losses due to cyclone in
coastal areas;
- on account
payment up to 25% advance of likely claims as immediate relief in the areas
which suffered atleast 50% crop yield loss;
- more
proficient basis for calculation of threshold yield;
- two higher
indemnity levels of 80% & 90% instead of earlier 70%, 80% & 90%;
- reduction in
Unit Area of Insurance to village/ village Panchayat level; and
- private
insurance companies have been involved to provide the benefits of competition.
Weather
Based Crop Insurance Scheme (WBCIS)
- Provide
coverage against weather deviation from the notified standards on the basis of
weather data received from the notified Automatic Weather Stations (AWSs) and
Automatic Rain-gauges (ARGs);
- actuarial
premium rates are charged with a provision of subsidy upto 50%, which is shared
by the Central and State Governments on 50 : 50 basis;
- entire
liability of claims is on the implementing insurance companies;
- it is
compulsory for loanee farmers and optional for non-loanee farmers;
- add on
coverage in respect of hailstorm and cloud burst on individual assessment
basis.
- private
insurance companies have been involved to provide the benefits of competition.
Coconut
Palm Insurance Scheme (CPIS)
- Individual
farmer/planter/grower offering atleast 5 healthy nut bearing palms in a
contiguous area/plot is eligible for insurance;
- Provide
coverage against total loss of palm on account of happening of peril insured
leading to death of the insured palm or its becoming unproductive;
- Fixed premium
rates ranging from Rs. 9/- to Rs. 14/- per palm depending upon the age of
palm. However, Government is providing subsidy upto 50% by GOI and 25% by
State Government;
- Sum insured
per palm is ranging from Rs. 900/- to Rs. 1750/-;
- Scheme is
being implemented by AIC.
This
information was given by the Minister of State for Agriculture Sh. Mohanbhai Kalyanjibhai
Kundaria in Lok Sabha today.
SS/CP