The working group on risk management in

(ii) ICICI Lombard General Insurance Company

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wg11 risk

(ii) ICICI Lombard General Insurance Company
ICICI Lombard has been a pioneer, in bringing weather insurance solutions to the country’s farming community. It was started in 2003 with a small pilot for 230 groundnut and castor farmers in Mahbubnagar (Andhra Pradesh). This year (2006), the product was offered to a larger geographical area and covered a wide range of crops. In the year, the company insured farmers and 1,51,866 acres of cropped area of various crops and sum insured was
Rs. 37.0 crores. The crops, parameters and states covered are, Soyabean -for deficit rainfall in Rajasthan and Madhya Pradesh. Generic product for all field crops - covering deficit rainfall during flowering and vegetative phases, excessive rainfall during maturity and

harvesting phases in Andhra Pradesh, Madhya Pradesh, Maharashtra, Jharkhand, Karnataka,
Orissa, Rajasthan and Tamilnadu. Grapes - excessive rainfall during fruit bud differentiation, resting storage, fruit setting and ripening & maturity stages, deficit rainfall during resting storage stage, excessively high temperature and high variation in diurnal temperature during berry growth and harvesting stages in Maharashtra and Andhra Pradesh.

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