India - Insurance companies accelerate pay-outs on crop loss

14.01.2022 1209 views

Following repeated reminders from the office of the Agriculture Commissioner, insurance companies have settled the majority of crop loss claims in the state. To date, 44.26 lakh farmers in the state have received Rs 2,501.66 crore in way of compensation for crop loss earlier in the season.

Notwithstanding the timely onset of the monsoon, farmers in the state had to face heavy rain damaging their crop in some areas. Similarly, extremely heavy rain during the withdrawal phase of the monsoon had seen farmers reporting crop loss in many areas. Cultivators in Marathwada, Konkan, Vidarbha and North Maharashtra region suffered maximum damage. A total of 47.65 lakh farmers in the state had filed claims worth Rs 2, 512.81 crore.

While claims were submitted on time, insurance companies delayed settling the same. Farmer organisations like the Kisan Sabha had led numerous agitations for the early settling of the claims.

Agriculture Commissioner Dheeraj Kumar had issued repeated notices to the insurers, warning them of action in case the claims were not settled soon.

Insurance companies had blamed the delay in joint survey and non-payment of the state government’s share as reasons behind the late settlement of claims. Over the past few seasons, claims for crop loss have seen an increase given the frequent incidents of unseasonal rains. The insurers have claimed that the business was loss-making for them. However, there is rising demand for a relook into the whole scheme as the insurance companies had made record profit in good seasons.

According to the latest figures of the 37.35 lakh farmers, who had filed claims of crop loss, 33.99 lakh have received their payment. Of the total Rs 2,278.52 crore claim amount, Rs 2082.40 crore has been paid to the farmers. Officials of the Agriculture Commissionerate said that three companies now have major pending claims and they are expected to be cleared in the next few days.

Nearly 11.30 lakh farmers had filed claims for mid-season adversity (unseasonal rains in the middle of the season mostly in September-October). The total claims filed were around Rs 430.41 crore. In this category, 10.27 lakh farmers have received Rs 419.26 crore by way of compensation.

Source - https://indianexpress.com

29.07.2026

Ghana - Farmerline, others support farmers in Weta and Avalavi following flood devastations

 Farmerline has announced a support package for rice farmers in the Weta and Avalavi enclaves in the Ketu North Municipality of the Volta Region.

29.07.2026

Bionema Develops a New Bioherbicide to Protect High-Value Crops from Weed Damage

Bionema Group Limited has announced a major advance in the development of a new patent-pending fungal bioherbicide designed to control difficult-to-manage weeds in major agricultural and horticultural crops.

29.07.2026

Philippine rice farms target tech boost to cut costs, prevent crop loss

The mechanization level of the country’s rice farms is on track to reach 3.40 horsepower per hectare (hp/ha) by 2031, further lowering labor costs and improving the sector’s productivity, according to the Philippine Center for Postharvest Development and Mechanization (PhilMech).

29.07.2026

India - Angetyongpang Constituency Rolls Out Livestock Insurance Scheme

The Angetyongpang Development Board and the Nagaland Department of Animal Husbandry and Veterinary Services rolled out a new livestock insurance scheme at the Mongsenyimti Village Community Hall. This initiative covers the entire 24 Angetyongpang Constituency.

29.07.2026

USA - USDA grant brings $35M feral hog control effort to Concordia, Madison and Tensas ahead of harvest

Local farmers are welcoming help as the U.S. Department of Agriculture announces $35 million for feral hog control in several Louisiana parishes, including Concordia, Madison and Tensas, just ahead of harvest season.

29.07.2026

India - YSRCP seeks restoration of free crop insurance scheme

The party leader alleges coalition government has shifted the burden of insurance premiums onto farmers and calls for ₹500 crore allocation to MARKFED for tobacco procurement and price stabilisation.

26.07.2026

Zimbabwe cattle and health cover for farmers

As climate change exposes Zimbabwe’s smallholder farmers to increasingly frequent droughts and extreme weather, the Insurance Council of Zimbabwe (ICZ) will broaden agricultural insurance beyond crops to include livestock, health, and funeral cover to lessen the financial impact of climate-related disasters.

26.07.2026

U.S. Farm Aid Could Hit $55.4 Billion as Debate Grows Over Long-Term Subsidy Dependence

A proposed $11.1 billion aid package reignites concerns that temporary farm relief may become a permanent pillar of U.S. agriculture.