India - Insurance companies accelerate pay-outs on crop loss

14.01.2022 1096 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

25.05.2026

Algeria - CASH Assurances to diversify into agriculture insurance

CASH Assurances will launch agriculture insurance plans in June 2026, as part of its diversification strategy.

25.05.2026

U.S. specialty crop growers push for stronger Farm Bill support

Specialty crop growers in the U.S. are calling for stronger support measures in the 2026 Farm Bill, particularly around risk management, market access, and crop insurance. 

25.05.2026

ASF outbreak leaves Bhutan piggery farmers with heavy losses

For piggery farmers in Damzhagsa, the African Swine Fever outbreak did more than wipe out their animals, it also wiped out a major source of income while leaving many of them with loans to pay and no clear way to recover – putting insurance in the spotlight.

25.05.2026

Australia - RoBird takes to the skies to protect $100m strawberry crops from the real thing

RoBird is now flying around Moreton Bay skies to protect the city’s $100 million strawberry industry from the real deal.

25.05.2026

India - 1.75 Lakh Hectares of Crops Damaged as Cyclone ‘Dana’ Hits Coastal Odisha

In Odisha, the severe cyclonic storm ‘Dana’ has badly damaged agriculture and property in the coastal districts of Bhadrak, Kendrapara, Balasore, Mayurbhanj, and Jagatsinghpur. 

25.05.2026

USA - National Pennsylvania Seeks USDA Disaster Aid After Crop Freeze

Pennsylvania’s congressional delegation urged the U.S. Department of Agriculture to issue a Secretarial Disaster Designation for all counties in the commonwealth after late spring freezes caused widespread damage to fruit and specialty crop farms, with industry losses estimated between $150 million and $200 million.

24.05.2026

Severe Hailstorm and Flooding Devastate Farmland in Central Greece

Torrential rain, strong winds and intense hail battered rural communities, leaving thousands of acres of agricultural land flooded or heavily damaged as authorities assess the extent of the losses.

24.05.2026

USA - Long Island oyster operations look to bounce back after winter temperatures cause severe damage

"This winter was unprecedented, weather-wise - at least in my lifetime," said Peeko Oysters owner Peter Stein.