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Otar Shamugia: "Up to 67,000 beneficiaries benefited from the state agricultural insurance program with the compensated damages exceeding GEL 83 million".
During the presentation of the 2023 report, the Minister of Environmental Protection and Agriculture emphasized the importance of insurance in the agricultural sector, noting that the state agro-insurance program covering climatic risks has been implemented for years.Â
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Up to 67,000 beneficiaries benefited from the program. The compensated damage exceeds GEL 83 million. Changes are annually included in the program, to make it more adapted to the interests of farmers and increase the number of beneficiaries.
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According to the Minister, due to the modifications made in recent years, the share of state co-participation in the insurance policy premium has increased, and instead of 50%, vineyard farmers can purchase insurance policies with 70% co-financing, from 5 ha to 20 ha.
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In the case of cereal crops, the areas that can be insured by one person have increased from 30 to 100 ha.Â
The insurance companies changed contract terms and limited the timeframe for response/assessment of losses, and instead of 21 days, it has been set to 15 days. Insurance rates have also changed.
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In his remarks, the Minister urged farmers to take advantage of agro-insurance and insure their crops against climatic risks.