The working group on risk management in
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| 4.7.3. Recommendations: A practicable insurance approach, would differentiate crops and other assets. Crops can be covered under area approach, while Other Assets to be covered at individual farmer level. The Working Group is of the view that Area approach based crop insurance, would continue to be standalone insurance. Only crop insurance, practiced based on individual approach (corporate farming, high-value agriculture, etc, could be integrated with insurance of Other Assets’. As the Working Group also recognizes the advantages of addressing farmer’s needs and simultaneously ensuring prudent risk management, it recommends, that a nodal insurer for the area based crop insurance approach, especially the AIC, be allowed to exclusively tie up with other insurers ( fora period of 4-5 years, who offer package insurance for other assets, by providing a common vehicle for servicing, promotion and marketing. With Micro Insurance Regulations in place, the scope to design tailor-made package insurance meeting almost all insurance requirements of the farmer has been widened. Download 0.68 Mb. Share with your friends:
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