Agro Insurance Program – Compensation for damages

The insurance companies started payment of the compensation for the damage incurred from natural disaster by the farmers in Kvemo Kartli region, who are involved in the Agro Insurance Program. The damage incurred due to excessive precipitation by Giorgi Ebanoidze, living in the village Tamarisi of Marneuli Region, will be fully covered. The floods that occurred on the 20th of June 2015 destroyed 75% of Giorgi Ebanoidzes onion crops. The loss, estimated by the insurance company, amounted to GEL 232000, which will be fully compensated by the Insurance Company Aldagi. The Manager of the Agro Insurance Program of the Agricultural Projects Management Agency, Mr. Levan Maghradze, the Deputy Governor of Kvemo Kartli Region, Mr. Nugzar Salia, and the Director of the Property Claims Management and Service Department of the Insurance Company Aldagi, Mr. Vakhtang Ebitashvili, visited Giorgi Ebanoidzes land that was damaged by the natural disaster and gave him a compensation certifying document. Giorgi Ebanoidze, who lives in the village Tamarisi of Marneuli Region, joined the Agro Insurance Program implemented by the Agricultural Projects Manageemnt Agency in October 2014 and insured 17 hectares of his onion crops. The insurance premium was GEL 30345, out of which the Agency paid GEL 28560 on behalf of the beneficiary and Giorgi Ebanoidze paid only GEL 1785. More than 200 beneficiaries from Kvemo Kartli region joined the Agro Insurance Program implemented by the Agricultural Projects Manageemnt Agency, out of whom 22 farmers live in Marneuli region. Across the country 22817 policies are issued under the Agro Insurance Program and the total subsidy amounts to GEL 12297817. The cost of the insured crops is GEL 164087076. Overall 20 281 hectares of land is insured. 3000 beneficiaries incurred damage due to excessive precipitation and hail, and according to the primary estimation the compensation amounts to GEL 4500000 million. The assessment of damages and the payment of compensation is carried out simultaneously.

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