New agricultural insurance products aimed at small-scale farmers and gardeners in Uzbekistan were launched in Tashkent.

The initiative was implemented by the National Agency for Prospective Projects (the Agency), the Ministry of Agriculture, UNDP, Swiss Re, Europa Re, and other partners.

Thanks to public-private partnership, the first stage of the insurance programs covers crop protection against frosts for cherries, grapes, and apricots in Tashkent, Samarkand, Fergana, Andijan, and Namangan regions. The next phase will expand the coverage to include pomegranates, apples, and walnuts.

Orifjon Faiziev, Deputy Director of the Agency, emphasized that this initiative is an important step toward creating a resilient system for protecting farmers from weather risks.

The new insurance products were presented to local insurers, government institutions, and farmers' organizations, marking the beginning of their active implementation. The presentation also became part of a strategy to expand insurance coverage and scale up financial protection for farmers.

The project is part of the UNDP’s global initiative "Insurance and Risk Financing (IRFF) in Uzbekistan," funded by the German Government. Its goal is to develop the insurance market, integrate insurance policies into the country's economic development, provide protection against natural disasters, and attract investments in the insurance sector.

Source - Uz Daily