State projects
agroinsurance
Agroinsurance
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The Agricultural insurance program was put into force on September 1, 2014 and is purposed to develop the insurance market in agricultural sector, promote agricultural activities, retain the income for the individuals with the occupation of the mentioned activities and reduce risks.
The program is implemented by non-commercial legal entity "Rural Development Agency".The Agency concludes contracts with the relevant insurance companies licensed under the rules envisaged by the legislation of Georgia in order to implement the project. The Agency also carries out insurance premium subsidies and their monitoring based on the above mentioned contracts.
Interested beneficiaries will be able to purchase insurance policy from the following insurance companies operating in Georgia:
• ALDAGI
• Insurance Company Prime
• Ardi
• TBC InsuranceÂ
• New vision insurance Â
• Georgian Insurance GroupÂ
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Following insurance risks will be covered within the mentioned insurance program:
• Hail
• Flood
• Storm
• Autumn Frost (Only citrus crops) –During the period September 1-November 30
According to the programme beneficiary can insure the land parcel up to 5 hectares. Each insurer of the land parcel in case of cereals 30 hectares,(This restriction does not apply to agricultural cooperatives) will receive 70% - co-financing for each crop envisaged under the program and 50% in case of vine (In case of agricultural cooperatives, the amount of insurance premium subsidies by the Agency per insurer/beneficiary shall not exceed 50 000 GEL). In addition, the insurer may have insured cereals crops as well as other crops at the same time. According to the program, the fixed insurance tariff will be determined.
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