India - Insurance companies accelerate pay-outs on crop loss

14.01.2022 891 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

18.12.2025

USA - DeSantis Administration Approves $27.4 Million in Conservation and Agricultural Land Protections

Governor Ron DeSantis and the Florida Cabinet on Tuesday approved the protection of more than 21,500 acres of conservation and agricultural land across the state, committing $27.4 million through the Florida Forever and Rural and Family Lands Protection programs.

18.12.2025

India - Shivamogga arecanut growers reel under rising losses due to crop diseases

The affected area expanded widely, reflecting the growing impact of the diseases on one of the district’s key plantation crops. 

18.12.2025

Angry farmers block Brussels roads with tractors over Mercosur trade deal

Thousands protest as EU leaders clash over trade pact farmers fear will flood Europe with cheaper South American goods.

18.12.2025

Canada - Manitoba Invests $10.5M to Advance Global Agriculture Gate

Manitoba Boosts Gate Funding to $23.5M for Grain Innovation.

18.12.2025

Philippines - State agri insurer speeds up typhoon payouts

More than 3,300 rice and corn farmers in this component city received over ₱11.6 million in crop insurance payouts this week.

18.12.2025

UK - £4m for sustainable agriculture and carbon removal firm relocating to Manchester

Black Bull Biochar (BBB), a UK start-up driving sustainable agriculture and carbon removal, has secured £4m in a late seed funding round to expand operations across the North West of England and accelerate its entry into northern Europe.

15.12.2025

India - Delayed crop loss survey keeps Cauvery delta farmers in limbo

Nearly 90,000 hectares of samba and thalady crops are submerged, raising fears for the next cultivation cycle.

15.12.2025

Romanian farmers to get financing support with €25 million EIB loan to Agricover Credit

Romanian farmers will be eligible for extra financing as a result of a €25 million loan that Agricover Credit IFN SA is receiving from the European Investment Bank (EIB).