A new cattle insurance scheme based on a digital health tracking system was rolled out jointly by Phoenix Insurance and ShurjoMukhi Ltd. The product, Shurjomukhi Pranisheba, will ensure prevent inbreeding, early detection of health disorders, monitoring of calves and continuous measurement of temperature, officials said.
Administering crop insurance in Asian countries with small fragmented agriculture land holdings is an expensive affair, but costs can be substantially lowered with the introduction of index-based or parametric insurance schemes. These are managed, however, through relatively generic data measurements that do not always capture the experiences of individual farmers.
Even with the passing of the Farm Bill, there are many hemp farmers that struggle to get the same services as any other business. According to an announcement from the US Department of Agriculture (USDA), these farmers presently running under pilot programs can now gain access to federal crop insurance.
Cannabis businesses are not immune to the harsh realities of any other business. In fact, they likely deal with even more difficult challenges than many other traditional businesses in a variety of respects. For example, most businesses—if not all—should have some form of insurance and, without insurance, a businesses’ only remedy may be to resort to and/or be subject to the court system.
The Modi government is considering major changes to its flagship farm insurance scheme, the Pradhan Mantri Fasal Bima Yojana, including an entirely new model of agricultural insurance in the country and making the programme optional for farmers availing farm loans, as messy implementation and delayed payouts have stoked farmers’ angst.
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