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Otar Shamugia meets the representatives of the Georgian Insurance Association and Insurance Companies
The Minister of Environmental and Agriculture Mr. Otar Shamugia and the First Deputy Minister Mr. George Khanishvili held a meeting with the representatives of the Georgian Insurance Association and Insurance Companies.
During the meeting, Mr. Shamugia emphasized the importance of the state agricultural insurance program and outlined its results.
"The state and the private sector should take steps to make agricultural insurance programs more tailored to the needs of both farmers and the insurance industry. Moreover, while addressing the needs, certain changes should be implemented to make the program more flexible, to increase the number of customers, and help farmers to reduce the damage caused by natural disasters to the greatest extent possible." the Minister noted.
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The representatives of "Aldagi", "TBC", "Ardi", "New Vision" and "Prime" insurance companies, insurance associations, and the Insurance State Supervision Service of Georgia attended the meeting.
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Within the framework of the "Agro Insurance Program", 149,880 policies were issued by insurance companies to 64,563 beneficiaries in 2014-2022. Different crops worth GEL 1,180,236,992 were insured. The land area covering 139,031.91 ha has been insured. The total insurance premium amounted to GEL 99,544,506, and the co-financing of the Rural Development Agency determined by the contract amounted to GEL 66,101,164. The amount of compensated damages is GEL 67,700,161.