A season of maize was planted, drought and insects were flooded, and in previous years they had to carry on their own. Full cost insurance for the country's three main food crops has been fully implemented since 2024, with farmers paying out-of-pocket contributions of up to five points。
Anyone who grows corn can throw it, and the small farmers and the size of it are included
Since 2024, all farmers growing rice, wheat and maize in the country and agricultural production organizations have been covered. Whether you're a small farmer with five or six acres, or a thousand acres in size, you're insured. The policy also allows village groups to organize small farmers ' group insurance and split payments, addressing the old problem of the inconvenient insurance coverage of small farmers。
Insurance is voluntary and farmers may choose one of the three risk categories of materialized cost insurance, full cost insurance, and income-growing insurance, but may not be insured on the same plot. The policy focuses on new agricultural operators and leads to greater organizationalization of smallholder farmers. The provinces are required to report to the ministry of finance by 20 june 2024 on the funding request and the balance sheet for the extension。
The country with the big premiums, farmers pay up to five points
The proportion of subsidies is clear: the central budget subsidizes 45 per cent of the central and north-eastern regions and 35 per cent of the eastern regions, on a basis of no less than 25 per cent of the provincial budget. A maximum of 5 per cent out-of-pocket premium is calculated for farmers who grow maize in the centre-west, at the rate of several hundred acres and a few dozen dollars。
On the basis of a contribution of not less than 10 per cent from the relevant central unit, the central financial authority pays its premium as a percentage of the subsidy in the place of cultivation. Local financial authorities are required to optimize the allocation of funds and to pay contributions to insurance institutions in full and on time, in accordance with the progress of insurance coverage and the actual signature, without default, so as to effectively improve the efficiency of financial resources。
What's full cost insurance
Full cost insurance covers the total cost of agricultural production, including the cost of materialization, land and labour, and in principle the level of security does not exceed 80 per cent of the value of the corresponding species. The insurance liability covers the risk of major local natural disasters, major pests, accidents, wildlife damage, etc., and claims for damage to maize can be reported in the event of hailing, large-scale crashes, and serious rodent injuries。
Data on the total cost of agricultural production, single production and prices (landfront prices) are based on the latest national collection of agricultural cost gains published by the national development and reform commission or data endorsed by the relevant authorities. The underwriter's combined cost rate is not higher than 20 per cent, and the saved cost space must be used to raise the level of security and quality of service and cannot be diverted。
I'll pay you back if you're going to lose your price
The amount of insurance for income from cultivation reflects both the price and production of agricultural products, and the level of security covers the income from cultivation. It is commonly said that the price of maize land has fallen, or is reduced by drought and flooding, so that loss of income can be covered by insurance. It covers the risk of price volatility more than full-cost insurance and is particularly suitable for food producers who are sensitive to market prices。
Farmers are insured at one or the other time, and full-cost insurance and crop income insurance are not available at the same time, much less duplicated with materialized cost insurance. Specific crop varieties and insurance products need to be determined in the context of local patterns of food production and the characteristics of agricultural produce, and provincial financial authorities must agree on programmes with rural farming, insurance supervision, representatives of farmers and local regulatory authorities of the ministry of finance。
Insurance documents are the basis of the claim
Insurance regulators explicitly require that both farmers and small farmers on a modest scale be insured, subject to loss and loss. No average payment, no agreement, no amount of acres, no amount of actual loss. The insurance documents in the hands of the farmers are the core claim basis, and the loss of the paper documents can be supplemented by an underwriting agency, as is the preservation of the electronic insurance document。
Insured institutions are required to conduct solid damage surveys, strengthen insurance and compensation information management and improve the accuracy of information collection by farmers. Local agricultural and rural sectors support the collection of food information. The insurance regulator supervises the insurance institution's heavy contract and credibility, and must settle damages in full and in a timely manner, and farmers who disagree with the outcome of the award can directly report it to the local regulator。
Digital insurance lines are on the way
The policy calls for the enhancement of the digitalization and onlineization of agricultural insurance and the consolidation of the large data management base at the policy level. Insurance coverage, reporting, surveying and settlement of claims can be completed on most of the line and not used to return to the rural safety net. The maintenance of insurance certificates is electronic and the progress of payments is measured in real time, increasing the accuracy, precision and reliability of agricultural insurance management。
Locally, innovative agricultural insurance products that meet the needs of farmers can be explored, innovatively piloted and promoted through the integration of agricultural insurance with other rural financial instruments, agro-farming policies and disaster prevention and mitigation initiatives, so as to enhance the credibility of insurance and contribute to the development of rural credit systems. To apply for agricultural loans with an insurance certificate, the bank recognized the credit addition guarantee。
Are you going to take full cost insurance or grow income insurance this year? Welcome to the comment area to say what your choice is, if you find it useful, and forward it to the relatives and friends of the land, so that everyone can know about this good policy。
