Insurance companies are likely to pay heavy compensation to the farmers across the nation as the dry weather in June and floods in September damaged crops in many states particularly in Maharashtra, where the outgo is expected to be more than Rs 10,000 crore, said the Agriculture Ministry on its recent reports.
Direct farm payments and crop insurance indemnities total 31% of farm income in 2019, the Food & Environment Reporting Network said today. The direct farm payments include trade war aid, land stewardship payments and traditional crop supports, FERN noted. Crop insurance indemnities are funded through crop insurance premiums.
The newly-floated tender bid inviting companies for implementing crop insurance scheme doesn't mention snowfall as one of the ‘major weather perils’ leading to crop loss. After heavy snowfall on November 7, Jammu Kashmir government introduced Restructured Weather Based Crop Insurance Scheme (RWBCIS) to cover farmers against the losses incurred on the account if ‘adverse weather’ conditions.
The deadline for Manitoba farmers to submit crop insurance Harvest Production Reports to the Manitoba Agricultural Services Corporation (MASC) is Dec. 2, whether the farmer completed harvest or not. Both the paper and online report forms should be easier for farmers to fill out because less information is now required, David Van Deynze, MASC’s vice-president of innovation and product support, said in an interview.
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