India - Insurance firms fix low rates, put farmers in trouble

09.02.2017 393 views
The drought-hit farmers are now a worried lot, upset over the  Pradhan Mantri Fasal Bima Yojana and private insurance companies. According to farmers, the private insurance companies are trying to pay them a low amount as insurance by taking into account the sowing period as the crop loss period instead of the harvesting period. After the monsoon failure and the non-receipt of Cauvery water, farmers in the delta region managed to cultivate crops with groundwater. Despite having  grown the crops, the unprecedented rainfall destroyed it completely. Meanwhile, adding to the worries of the farmers who were expecting insurance for the failed crops, insurance companies were considering only the sowing period as against the harvest time. “With the Pradhan Mantri Fasal Bima Yojana, the State and Central governments are only paying subsidies up to 26%. Afterwards, if there is any crop loss, the governments point towards the private insurance companies. Now, the private companies are playing games in connection with the insurance amount,” said ‘Cauvery’ Dhanapalan, president, Cauvery Delta Farmers Association. According to him, the insurance companies were considering crop loss as the loss which happened during the period of sowing, whereas the truth was that 90 per cent loss had occurred. “If the insurance companies consider the loss during the sowing period, farmers could get just `6,000 per acre as insurance. But actually the loss happened only during harvest time. If the companies consider the loss at the time of harvesting, they have to provide `26,000 per acre as insurance,” he added. Questioning the way crop assessment was done, Cauvery Delta Farmers Associations office-bearer Guru Gobi Ganesan said, “Nowadays, the officials are assessing the crops on the basis of villages. The place chosen for crop-cutting experiment is most often in well-grown parts. Despite 90 per cent of agricultural lands having become barren with the drought, the officials are assessing the remaining 10 per cent areas where crops have grown well.” Source - http://www.newindianexpress.com
23.04.2026

Canada - Agricorp pays out more than $253 million after challenging 2025 season with soybeans recording the biggest losses

As of mid April, Ontario farmers claimed more than $253 million in Agricorp production insurance for the 2025 season, more than double the $115 million claimed a year earlier. 

23.04.2026

USA - Cold damages Michigan apples, peaches and cherries, MSUE say losses uneven

Michigan State University Extension educators are expecting widespread but highly variable fruit damage across the state following this weekend’s low temperatures.

23.04.2026

Super Typhoon Sinlaku crop loss assessment begins to help Guam farmers, ranchers

A preliminary damage assessment of crop, livestock, and farm property losses sustained during Super Typhoon Sinlaku has started, which could help affected farmers and ranchers receive compensation to help them recover from the storm.

23.04.2026

Georgia - The Rural Development Agency implements the state agroinsurance program with an increased budget

In 2026, the budget of the state agroinsurance program amounts to 17 million GEL, which is 2 million GEL more compared to the previous year. 

23.04.2026

Nigeria - FG Pays ₦396.7m Insurance Claims to 43,000 Farmers

The Federal Government has disbursed a total of ₦396.7 million in insurance claims to over 43,000 smallholder farmers impacted by climate-related losses, in what officials describe as a strategic step toward strengthening Nigeria’s food system resilience and protecting vulnerable agricultural livelihoods.

23.04.2026

Nepal - Govt urged to adopt agroecology

The Alliance of Agriculture for Food has called on the government to revise its recently published national commitment document, advocating a transition to an environmentally friendly agricultural system based on agroecology.

22.04.2026

Bangladesh - PM rolls out master plans for 'smart agriculture'

Technology-driven modern farming is in sight in Bangladesh as Prime Minister Tarique Rahman Wednesday unveiled a set of master plans to implement "smart agriculture" initiatives for boosting agricultural production, diversifying farm products and addressing climate-change impacts.

22.04.2026

USA - Capital Farm Credit acquires Ag Crop Insurance Agency

In an effort to provide the best risk protection for ag producers in the High Plains region of Texas, Capital Farm Credit has acquired Ag Crop Insurance Agency.