Summary of 1 year pilot agricultural insurance
(Baonghean.vn) -This morning, July 6, in Vinh City, the Ministry of Finance coordinated with the Ministry of Agriculture and Rural Development to organize a conference to review the pilot agricultural insurance under Decision 315/QD-TTg. Attending were Mr. Vuong Dinh Hue - Member of the Party Central Committee, Minister of Finance; Ms. Nguyen Thi Xuan Thu - Deputy Minister of Agriculture and Rural Development and leaders of the Department of Insurance Management and Supervision, Bao Viet Insurance Corporation, Bao Minh Insurance Corporation, Vietnam Insurance Association. On the provincial side, there was Mr. Dinh Viet Hong - Vice Chairman of the Provincial People's Committee and representatives of 20 provinces and cities implementing the pilot agricultural insurance.
After more than a year of pilot implementation of agricultural insurance, some positive results have been achieved. According to a report from the insurance industry, up to now, 20 provinces and cities have signed insurance contracts with 98,594 participating households; the value of crop and livestock insurance is 959.4 billion VND, insurance premium is 48.7 billion VND. Regarding rice, 93,945 households participated on a total area of 34,622 hectares, insurance premium is 664 billion VND; livestock is 1,700 cows, 79,800 pigs, 621,000 poultry with a total insured value of 74 billion VND; aquatic products are 1,234 hectares, total insurance value is 220 billion VND... Although the number of households participating in insurance only accounts for 3% of households subject to agricultural insurance; The area and quantity of livestock and aquatic products are still low, but this is an initial result worth noting to create momentum for the following years.
Pilot review conference of agricultural insurance
In addition to the achieved results, the pilot implementation also revealed difficulties and limitations, such as inappropriate policy mechanisms; some regulations on compensation levels are not consistent with the nature of insurance business. Regarding insurance rules, according to feedback from localities, there are many unreasonable points, such as the livestock scale must reach 30% of the total herd to be insured, the deduction level of 20% for rice is too high...
To continue the successful pilot implementation of agricultural insurance, based on the opinions of localities, the Ministry of Agriculture and Rural Development issued a Circular amending and supplementing the selection of locations, subjects, and standards for insurance participation; the Ministry of Finance issued a Decision supplementing and amending insurance rules, fee schedules, and insurance liability levels.
On the part of the local Steering Committees, it is necessary to compile statistics and review the subjects (households, production facilities, planting areas and total herds); indicators such as productivity, economic value to serve as the basis for calculating insurance premiums and determining contract conditions and settling compensation. Strengthen propaganda work so that people clearly understand the purpose and meaning of agricultural insurance...
Ngoc Anh
