Ukrainian agricultural producers will be able to receive compensation for insurance costs
The launch of the agricultural product insurance program with state support was discussed at a meeting of the working group at the Ministry of Economy of Ukraine. The Internet resource of UkrStrahuvanny knows about this from the press release of the Ministry of Economy.
It is reported that the new form of state support provides compensation of 60% of the amount of the insurance premium for agricultural producers from the frontline areas and 45% compensation for other agricultural producers.
To participate in the state support program, an agricultural producer must conclude a contract with an authorized insurance company, pay an insurance premium and submit an application for compensation of the established standard.
Today, insurance support is provided by the companies “INGO”, “Universalna” and “VUSO”. It is expected that the list of authorized insurers will expand.
“The launch of agricultural insurance with state support forms a new risk management tool in the agricultural sector and strengthens food security of Ukraine,” the press release of the Ministry of Economy states.
Earlier, the concept of a three-level war risk insurance system was discussed, which includes government programs for those areas and risks where market mechanisms do not operate.