Hail damaged crops in Cherkassy oblast on July 3 and 13, 2009. Corn got significant damage however forage corn was less affected. According to insurance experts, the farmers will see 10-15% of yield drop, in the worst case damage will reach 20%. Stil the farmers were lucky as cobs were formed and the plants continue caring for grain.
Agricultural insurance system is built on cooperation of 8 insurance companies working through the fund – partnership system “Die Osterreichische Hagelversicherung”. It was founded in 1946 (nonprofit). Business organization is built on mutual insurance association system. The corporate objectives include comprehensive risk management for agriculture system and non-profit features.
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