Agrarian policy ministry wants to create state agrarian insurance company
2011-03-30 17:25:54
The Ministry of Agrarian Policy and Food has elaborated a draft resolution to approve of a concept on the development of a farm products insurance system of Ukraine. The instrument is aimed at defining the strategic directions of state policy in the area of agricultural insurance.
It is explained that every year the government in an attempt to minimize damage to the country's agriculture from adverse weather conditions is forced to regularly resort to measures of financial assistance in the form of direct payments from the reserve fund of the Cabinet of Ministers, which rarely exceed 10-20% of damage.
The aim of this concept is to choose the most optimal variant of the agricultural insurance system, aimed at minimizing the risks in the sector and ensuring the stability of agricultural production.
In particular, the document provides for setting up a State Agricultural Insurance Company (SAIC) as an independent state-owned enterprise, etc.