India - Insurance companies accelerate pay-outs on crop loss

14.01.2022 1183 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

12.07.2026

South Korea - Ministry of Agriculture Pays 120.3 Billion Won in Income Insurance to 20,700 Farms

The Ministry of Agriculture, Food and Rural Affairs announced today (July 12) that 120.3 billion won in insurance payouts has been distributed to 20,700 farms for nine agricultural items whose harvest-season prices have been finalized, out of the 15 items covered by the agricultural income stabilization insurance sold last year.

12.07.2026

India - Centre’s Digital Farm Push Aligns With State’s Tech Lead

The Centre’s renewed push for digital agriculture is expected to accelerate farmer registration, crop data capture and technology‑based delivery of farm services, even as Telangana leads in the digital farm space. 

12.07.2026

USA - Deep Freeze Caused $30M Crop Loss — Now Hudson Valley Farmers Pushing For Federal Disaster Aid

Hudson Valley farmers who lost much or all of their crops during a devastating spring freeze are renewing calls for the federal government to declare an agricultural disaster, saying millions of dollars in emergency relief are urgently needed to keep many family farms afloat. 

12.07.2026

India - Flash flood in Anantnag’s Chittergul causes crop damage and calls for compensation

A cloudburst in the Nala Chotihall area of Chittergul in south Kashmir’s Anantnag district on Sunday triggered flash floods that resulted in significant damage to agricultural land, orchards, and residential properties.

12.07.2026

Zimbabwe - Govt to expand land under irrigation by 20 000ha this year

The government will expand land under irrigation by an additional 20 000 hectares as part of a broad package of climate adaptation measures aimed at safeguarding food production ahead of the forecast El Niño that will likely affect the 2026/27 summer cropping season.

12.07.2026

USA - Increased ag drone use spurring insurance coverage options

An assistant vice president of underwriting and sales with Nationwide Insurance says agriculture’s quick adaptation of drones, or unmanned aerial vehicles, is bringing with it new considerations for farm insurance policies.

09.07.2026

Philippines - Cebu farmers urged to insure crops, report any Kanlaon ashfall damage

Farmers in Cebu were urged to insure their crops and promptly report any ashfall-related damage after volcanic ash from Kanlaon reached parts of the province on Thursday, July 9.

09.07.2026

Canada - ‘Yellowing and drowned out crops’ follow heavy rainfall in Saskatchewan

Producers in Saskatchewan are starting to see the effects of the heavy rainfall the province has received in recent weeks.