More than 160 thousand households have agricultural insurance contracts

The Ministry of Finance said that after 1 year of piloting agricultural insurance in the 2011-2013 period, the agricultural insurance pilot has been implemented in all provinces and cities with 160,787 households signing insurance contracts, of which 85% are poor households.

The value of insurance for crops, livestock and aquatic products is 1,845 billion VND, the insurance premium is 130,518 million VND,

Specifically, regarding rice, in the provinces of Binh Thuan, Dong Thap, Nghe An, Thai Binh, Ha Tinh, Nam Dinh, An Giang, the total insured rice growing area is 36,997 hectares; the total number of insured households is 149,502 households; the total insured value is more than VND 823,255 million; the total insurance premium is VND 35.97 million; compensation incurred in Nghe An and Ha Tinh is VND 6 billion.

Regarding livestock, in the provinces of Bac Ninh, Dong Nai, Nghe An, Vinh Phuc, Thanh Hoa, Binh Dinh, and Hanoi, the total number of livestock registered for insurance is: 3,700 buffaloes and cows; 179,800 pigs and 821,000 poultry; the total number of households participating in insurance is 7,362 households; the total insured value is 186,378 million VND; the total insurance premium is 12,259 million VND; compensation has occurred of 23 million VND.

Regarding aquaculture, in the provinces of Bac Lieu, Soc Trang, Tra Vinh, Ben Tre, and Ca Mau, the total insured area is 1,032 hectares; the total number of insured households is 3,923; the total insured value is 836,340 million VND; the total insurance premium is 82,288 million VND; and compensation has been incurred of 35,854 million VND.

The Ministry of Finance said that the above positive results were achieved because the policy mechanisms were issued quite fully and synchronously, creating conditions for localities and insurance enterprises to organize and implement.

New regulations such as (addition of insurance objects for livestock, shrimp/fish and expansion of insured risks for rice plants, livestock, aquatic products, raising the insured productivity for rice plants to 90% of the average productivity of the commune or insured unit...) will increase the benefits for the insured when damage occurs due to natural disasters, epidemics and is within the scope of insurance.

The Ministry of Finance said that, according to plan, the pilot period for agricultural insurance will last until June 30, 2014.

(According to Chinhphu.vn) - LC