A new insurance system in the agricultural sector has entered into force in the republic . The insurance operator is the Agricultural Financial Support Fund, a subsidiary of KazAgro Holding.
In contrast to the mandatory form of insurance in crop production, which has been in force since 2004, the new one has several innovations.
Firstly, agricultural insurance is now voluntary.
Secondly, there are no restrictions on the industry - hedge can be any direction within RGM ary sector.
Thirdly, it provided the State nd support and in the form of subsidizing I insurance premiums . She called apravlen and to encourage agricultural producers and made cheaper ix insurance contract by half: 50% of the insurance premium will be subsidized by the state, for which of the national budget this year allocated about 2.5 billion tenge.
- In the development of the new system were considered problematic issues necessarily of crop insurance , - said Managing Director - Member of the Board of JSC "Fund for Financial Support of Agriculture" Askar Kaliev. - So, in order to protect the interests of agricultural producers , only insurance companies licensed by the Agency of the Republic of Kazakhstan for regulation and development of financial markets will be able to work in the system.
The system involves three international reinsurance companies with a rating of “A” in the global insurance market. They will reinsure risks b erut the domestic companies. This will ensure guaranteed payments in the event of insurance risks.
In ce procedures, starting from the conclusion of the contract and ending payments that will produce s camping on the electronic platform Qoldau . kz based on the electronic digital signature of the agricultural producer . Automation of the process s will minimize human rd factor and ensure the transparency of the work .
- Today, Agriculture Financial Support Fund assertion dil INSURANCE ie products based nye on moisture index in SMO in e - its Fault e and an overabundance of e, - commented Askar Kaliev. - In other words, the agricultural producer can insure his crops from summer droughts and autumn rains. Insurance subject grains ( nu e maths , barley, corn, oats) and oilseeds (sunflower and to, canola, flax) culture. To monitor the information will come from distant sources probing Bani land. M ONITORING moisture level is conducted on an ongoing basis , and the fact that the onset of Stra by ear case is fixed automatically.
Having received notifying ix in the personal account system Qoldau . kz and personal email on Mr. astuplen uu insured event , the policyholder ( agricultural producers ) with the help of electronic signature draws up a statement in yplate to the insurer (insurance company), koto ing provides for the payment.
As practice shows, more than 60% of insured events are due to lack of moisture, that is, drought. In this regard, and also given the completion of the sowing campaign, the drought insurance product is of particular relevance.
In order to insure against the risk of lack of moisture, the agricultural producer must conclude an insurance contract until June 15 of this year. The insurance period will cover 3 months - from May 15 to August 15, 2020 .
Excess moisture insurance contracts should be concluded before August 15, insurance coverage will be valid from August 15 to October 15, 2020.
The list of insurance products as the insurance system develops in the agricultural sector will expand, taking into account the relevance and relevance in the market.
For all questions, contact JSC “Fund for Financial Support for Agriculture” by phone +7 (714 2) 53 39 16 .
Press Service of the Fund for Financial Support of Agriculture JSC
Tel .: 8 800 080 3505