Aldagi Insurance Company has been actively campaigning throughout Georgia in support of the State Agro Insurance Program.
Today, representatives of Aldagi Insurance Company met with farmers in the region and provided detailed information on the Agro Insurance Program.
As part of the project, Aldagi Insurance Company offers the farmers in the Kakheti region insurance products for vine, peach and other different crops. This crop insurance covers the following risks: hail, excess rainfall and hurricane. Aldagi Insurance Company will compensate for any damage caused by the disaster. Aldagi Insurance Company has many years of experience in agro insurance. It is noteworthy that in this field the sum paid by Aldagi to reimburse for the damage is up to 3 million gel.
The State Agricultural Insurance Program is implemented by the Agricultural Project Management Agency. The program aims to promote the development of agriculture in the country and the establishment of the insurance market in the agro sector. Therefore, as part of the second stage of the program, state farmers finance a large portion of the insurance premium (40% to 60%).
For example, for vine insurance, if it had to produce 10 tonnes of crop per hectare at a cost of 12,000 GEL, the farmer would have to pay 5.1% of this amount or 612 GEL. The rest of the premium will be reimbursed by the state for 408 GEL, for 1 ton of grape crop insurance, and the farmer will have to pay a maximum of 61.2 GEL. 40.8 will be paid by the Agency.
For example, for peach insurance, if he had to harvest 23 tonnes of crops per 1 ha, the cost of which would amount to 13,800 GEL, the farmer would have to pay 3.4% of the amount or GEL 469.2. The rest of the premium will be reimbursed by the state for 703.8 GEL, for the insurance of 1 ton of the peach crop, and farmers will have to pay a maximum of 20.4 GEL. 30.6 Gel will be paid by the Agency.
Aldagi Insurance Company, in collaboration with Credo Microfinance Organization and Bank of Georgia, offers farmers a flexible and streamlined scheme of purchasing agro insurance policies. Farmers are encouraged to apply for favourable financing conditions of the insurance premium at any branch of Bank of Georgia and Credo throughout Georgia.