Armenia to introduce mandatory agricultural insurance in 3-5 years
16.10.2017,
15:24
The government of Armenia plans to introduce mandatory agricultural insurance in the next 3-5 years, deputy minister of agriculture Armen Harutyunyan told journalists on Monday.
YEREVAN, October 16. /ARKA/. The government of Armenia plans to introduce mandatory agricultural insurance in the next 3-5 years, deputy minister of agriculture Armen Harutyunyan told journalists on Monday. A pilot agricultural insurance program will start in Armenia next year, and the anticipated positive results could be spread throughout the country, he said.
"At the initial stage, we plan to introduce insurance for four main major risks - hails, frosts, droughts and strong winds, after which we will look into expanding the list," said Harutyunyan. He added that the medium-term expenditure program provides for 5 million euros for the creation of an insurance bureau that will deal with the calculation of insurance premiums and the amount of claims compensation.
He said the decisions of the Bureau will be mandatory, since they will take into account all possible risks.
"At the initial stage, the insurance will embrace about 30 agricultural products, such as apricots, tomatoes, cereals, but in the future the list of agricultural produces will expand," said Harutyunyan. -0-
"At the initial stage, we plan to introduce insurance for four main major risks - hails, frosts, droughts and strong winds, after which we will look into expanding the list," said Harutyunyan. He added that the medium-term expenditure program provides for 5 million euros for the creation of an insurance bureau that will deal with the calculation of insurance premiums and the amount of claims compensation.
He said the decisions of the Bureau will be mandatory, since they will take into account all possible risks.
"At the initial stage, the insurance will embrace about 30 agricultural products, such as apricots, tomatoes, cereals, but in the future the list of agricultural produces will expand," said Harutyunyan. -0-
