A weather-based crop insurance scheme (WBICS) for this year's Rabi season in Himachal Pradesh has received Union Agriculture Ministry's approval.

The Agriculture Insurance Company (AIC) would be the implementing agency of WBICS in Solan district for tomato while ICICI Lombard GIC will be the implementing agency in Kangra for potato produce, an official spokesman said.

Weather perils including frost, chill, wind, scanty and excess rainfall, that were likely to cause adverse effects leading to crop loss, would be covered under the scheme.

The premium rates for tomato and potato produce, have been calculated at 11.5 per cent by AIC India, by using standard premium methodology and 50 per cent of the total premium would be payable by insured cultivator.

The balance premium would be borne by the Centre and the state government on 50:50 basis.

Lead banks, cooperative banks, AIC -- which are the implementing agencies -- would take necessary action to ensure implementation of the scheme in the state.

The scheme would operate on the principle of 'Area Approach' in the selected notified reference unit areas.

The cut-off dates for accepting the crop insurance proposal from non-loanee and loanee farmers are March 10 and March 15, 2015 while the cut of date for tomato and potato produce was January 5, 2014 and December 31, 2014 respectively.

No insurance coverage would be allowed after the due date.

Source - http://www.business-standard.com/