The Secretariat of Agriculture, Livestock, Rural Development, Fisheries and Food (SAGARPA) will invest around MXN 3.6 billion (USD 205.2 million) this year for insurance in agriculture, aquaculture and fisheries sector in the country. Through the Department of Rural Development the Agricultural Claims Component is operated to Serve Small Producers, of the Rural Productivity Program, by which schemes will be expanded and will, for the first time, make it available to producers, innovative instruments for the insurance of aquaculture, beekeeping and fisheries sectors. This insurance mechanism considers vessels for coastal fishing and for inland water fisheries as well as livestock universal coverage standard for availability of pasture, in coordination with state governments and producers. A new protection scheme will be available for farmers in the country for them to have access to insurance schemes, providing an incentive to cover 20 per cent of the cost of the insurance premium. This will make it possible to protect the biomass production against natural disasters, regardless of the size of their production units. It is therefore a requirement for them to be registered in the National Register of Fishing and Aquaculture, to have the corresponding concessions or permits and pay their share of the cost of insurance. The insurance scheme that SAGARPA promotes focuses its efforts on small producers who, by their nature, are more exposed to climate risks and other natural disasters. This effort will be supplemented by an estimated investment of MXN 551.4 million (USD 31.4 million) as a contribution from the state governments and MXN 333.4 million (USD 19 million) provided by producers. Source - fis.com