Azerbaijan to take steps to apply insurance system in agriculture sector
By Trend
Azerbaijan will take steps to apply insurance system in the agriculture sector, Trend reports on April 26.
The system is developed in the new draft law “On Agriculture Insurance”. In accordance with the draft, the state determines the objects and risks of agriculture insurance, controls the system of agriculture insurance, and takes measures to develop the system.
Agriculture insurance objects include agricultural plants and crop products, livestock, poultry, bee families, as well as rabbits, inhabitants of water bodies, camels, llamas and ostriches bred for agricultural purposes.
Agricultural producers are insured against natural disasters, including fire, accidents, infectious diseases and poisoning, attacks of wild animals and the spread of especially dangerous pests, and third-party actions.
The premium for agriculture insurance will consist of a sum paid by an insured person and the funds from the state budget.
The body of agricultural insurance is created by a structure defined by the relevant executive authority.
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