Value of insured agricultural assets increases by 31%

 
 

 

According to a statement by the Agricultural Insurance Pool (TARSİM), State Supported Agricultural Insurance System has continued to grow this year; as the producers have shown greater interest in agricultural insurance and the Pool has been supporting producers in fight against the negative impacts of climate change. 


The announcement emphasizes that the losses caused by global natural catastrophes of recent years have been destructive, and impacted our country as well as the rest of the world; which means that continuing agricultural activities without insurance coverage has become impossible. The statement continues as follows: 


New types of coverage are implemented for State Supported Agricultural Insurance every year. The State provides up to 67% of premium support in certain branches, and offers easy terms of payment for farmers. Consequently, the portfolio of State Supported Agricultural Insurance continues to grow stably. By the end of August 2019, total sum insured in all branches has increased by 31% reaching 39 billion TL; while the number of policies grew by 13% and reached 1.7 million. Likewise, premium production has been raised up to 1.9 billion TL by a growth of 15 percent; number of insured sheep and cattle increased by 50% and up to 2.9 million; and size of lands covered by crop insurance reached 22 million decares.
We have received 292 thousand claims from producers in all branches of agricultural insurance. Top three reasons for losses have so far been hail, storm and flood; top three cities with highest number of claims have been Malatya, Konya and Manisa; and top three crops that received the most damage have been wheat, apricot and grape. Most of the expertise appraisals that begin immediately after we receive the claims are accompanied by our regional management teams. So far, we have paid 532 million TL to producers whose appraisals have been finalized in accordance with the General Terms, Tariff and Instructions. We will pay 604 million TL more in the coming days, in accordance with the policy termination dates.”


 
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