India - Insurance companies accelerate pay-outs on crop loss

14.01.2022 1210 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

30.07.2026

Half of England declared in drought as insurers face exposure beyond subsidence

Record payouts, repeat drought conditions and ageing housing stock are reshaping how property insurers approach renewal risk.

30.07.2026

India - Poor rainfall, white grub infestation threaten sugarcane crop across Dharmapuri

Farmers fear heavy crop losses as drought and white grub attacks dry up and rot sugarcane fields, prompting demands for pest-resistant, drought-tolerant varieties.

30.07.2026

Rokstone Agriculture expands livestock offering with new $20m AXA XL capacity agreement

Rokstone, an international specialty re/insurance managing general agent (MGA), has announced that its Agriculture division has entered into a new capacity agreement with AXA XL, introducing an excess livestock risks facility with limits of up to USD $20 million.

30.07.2026

India - BJP drought study team protests with farmers in Ballari over crop losses

Leader of Opposition in the Karnataka Assembly R Ashoka joined a BJP drought study team in staging a protest alongside farmers in a pigeon pea field at Karekal village in Ballari taluk on Thursday, citing severe distress caused by deficient rainfall and alleging the state government’s inadequate response.

30.07.2026

Global crop models underestimate how rice responds to extreme heat

A new study on how rising temperatures will affect rice production in Science Advances compares 214 observations from field-warming experiments with seven crop models, revealing modelled estimates for yield reductions from 1°C of global warming were roughly half those of the real-world observed experiments (3.8 percent instead of 8.1 percent). 

30.07.2026

Bangladesh - Rain-induced crop damage inflicts colossal losses on Bogura farmers

Weeks of heavy monsoon rain and upstream flows from northern rivers have damaged crops largely across parts of Bogura, leaving thousands of farmers facing steep financial losses while government relief remains limited, according to farmers, agriculture officials and district authorities.

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.