Time in Yerevan: 11:07:36,   4 August

Armenia introduces insurance system in agriculture sector

Armenia introduces insurance system in agriculture sector

YEREVAN, NOVEMBER 29, ARMENPRESS. Armenia introduces insurance system in the agriculture sector, reports Armenpress.

After today’s Cabinet session acting minister of agriculture Gegham Gevorgyan told reporters that this solution is totally new and has never been applied in the agriculture sector. It will launch in 2019 in the form of a pilot program. Firstly it will be introduced in Ararat and Armavir provinces, but the issue of installing it in Shirak province is also being discussed.

“The agricultural insurance is a new phenomenon in our field, we will have an insurance from risks. In other words, the insurance companies will cover the risks over the expenditures the village makes completely. The risks are linked with natural disaster, first of all, hail and frostbite will be taken into account. Today we presented a draft in the government by which we propose compensation of damages caused to farmers, but in case of the introduction of insurance system the state will be out of this process and the insurance companies will make a compensation with a greater volume”, the acting minister said.

He informed that they have met with the farmers and introduced them on the program. The villagers reacted positively to the program and expressed a wish to participate. They were interested in the issue subsidizing the insurance costs. The acting minister said there will be a subsidy, there will be no great burden on the villager.

Gegham Gevorgyan said the issue of anti-hail network is also being discussed. A group has been formed by the instruction of the acting prime minister to study this issue and understand the efficiency mechanisms. He said today Armenia already produces anti-hail networks.

Edited and translated by Aneta Harutyunyan




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