National Agriculture Insurance Company

HI I would like to know the salient features of the National Agriculture Insurance Scheme offered by the Agriculture Insurance Company of India Ltd.?

[Pathak]

Agriculture Insurance Company of India Limited (AIC) was joined under the Indian Companies Act 1956 on twentieth December, 2002 with an approved share capital of INR 15 billion and paid up capital of INR 2 billion. AIC initiated business from first April, 2003.

Edit protection is a protection game plan going for moderating the money related misfortunes endured by the ranchers because of harm and pulverization of their yields as a consequence of different creation hazards.

Striking Features of the NAIS Scheme

1. Edits Covered

2 States and Areas to be Covered

3. Ranchers to be Covered

4. Hazards Covered and Exclusions

5. Entirety Insured/Limit of Coverage

6. Premium Rates

7. Premium Subsidy

8. Sharing of Risk

9. Range Approach and Unit of Insurance

10. Regularity Discipline

11. Estimation of Crop Yield

12. Levels of Indemnity and Threshold Yield

13. Nature of Coverage and Indemnity

14. Methodology for Approval and Settlement of Claims

15. Budgetary Support Towards Administration and Operating (A&O) Expenses

16. Corpus Fund

17. Reinsurance Cover

18. Administration of the Scheme, Monitoring and Review

19. Executing Agency

20. Advantages Expected from Scheme

21. Operational Modalities

The Scheme provides comprehensive risk insurance for yield losses due to:

(i) Natural Fire and Lightening, Storm, Hailstorm, Cyclone, Typhoon,
Tempest, Hurricane, Tornado Flood, Inundation and Landslide.

(ii) Drought, Dry spells.

(iii) Pests / Diseases etc.

At present this plan is being executed in 23 States and UTs (aside from Punjab, Manipur, Nagaland, Mizoram and Arunachal Pradesh among the States and Chandigarh, Daman and Diu, Delhi, Dadra and Nagar Haveli and Lakshadweep among the UTs).

Address:

Agriculture Insurance Company of India Ltd.
Registered Office: 13th Floor, Ambadeep Building, 14, Kasturba Gandhi Marg,
New Delhi - 110 001, INDIA
Landline Nos: (+91 11) 46869800, Fax No: (+91 11) 46869815
E-Mail: aicho@aicofindia.com