Farm Crops Insurance

Farm Crops Insurance Farm Crops Insurance

Insurance coverage for crops has notably increased during the current Iranian year (ends March 19, 2016), said Muhammad Ebrahim Hassan Nejad, deputy head at the Agricultural Crops Insurance Fund.

Speaking at a meeting to discuss issues related to agricultural insurance in Ardebil Province, he said Iran is among the countries with high frequency of natural disasters such as floods and hail in some regions and drought in other parts. Therefore expanding agricultural insurance is a necessity, IRNA quoted him as saying.

So far, over 153 crops have been insured against 204 natural disasters, pests and disease, Hassan Nejad said adding that every year the agricultural insurance development fund pays 12 trillion rials ($333 million) in claims compensation and the figure is set to increase.

Since wheat is a strategic crop, its premium has not been increased. This is to encourage farmers to insure their wheat crops without difficulty, he said.

Some countries in the world insure around one to four agricultural crops. Iran is the first to insure 154 crops.

Hassan Nejad, who is also head of the Agricultural Jihad office in the northwestern province, said during the last farming year, unforeseen incidents and natural disasters were the cause of 25% of damages to provincial crops.

Ardebil Province ranks first in production of various crops including lentils and rapeseed. It stands second in potato production, third in honey, fifth in sugar beet and seventh in production of grains, wheat and barley.