- How many insurance companies participate in the Programme?
Interested beneficiaries will be able to purchase insurance policy from 8 insurance companies operating in Georgia: ALDAGI, Insurance Company Prime, Ardi, TBC Insurance, New vision group, Georgian Insurance Group.
- Can I participate in the Program if I own 10 hectares of land?
The agricultural plots of land of not more than 10 hectares may participate in the Agro Insurance Project. In case of insuring the wheat crops, the area of the land must not exceed 50 ha.
- Whom can I apply to for insuring the crops?The persons, who wants to insure agricultural crops, must apply to the insurance companies participating in the Programme.
- Must land be registered in the Public Registry?The land should have a cadastral code.
- When does the liability of an insurance company come into force?Fruits - 50% of the fruit in the insured area reaches 0.8 cm in diameter, except for cherry, cherry and hazelnut, in which case the insurance comes into force when the fruit reaches 0.4 cm in diameter; - Berries - The plant has passed the flowering phase, the fruit becomes strongly selective and is formed on a shrub; - Grapes - Clusters are displayed (when clusters are open and visually resolved).
- Which natural disasters can be the land insured against?Under the Agro Insurance Programme the damage incurred to the insured object will be compensated, if caused by the following: hail, flood,windstorm and autumn frost(only citrus crops, from September 1 to November 30)
- Is it possible to insure the cultures other than those specified in the list?The agricultural cultures, which are not specified in the list of insured cultures, may be insured on the basis of the agreement between the insurer, insured and the Agricultural Projects’ Management Agency.
- Whom a beneficiary may first of all apply to when the damage is incurred?First of all the beneficiary must inform the insurance company regarding the incurred damage within 24 hours via a hot line, and also submit the information on the incurred damage in a written form to the insurance company within 5 business days.
- How is the state subsidy determined?
The subsidies of the agency for all agricultural crops is 70%.
- When is the damage assessed?15 calendar days from the identification of the beneficiary in case of one-year agricultural crops, 21 calendar days in case of perennial agricultural crops and 30 calendar days in case of citrus crops. However, in case of damage to 51% of the insured plots of the insurance company in one of the insured geographical units (municipalities) as a result of the occurrence of one insured risk, the term may be extended for not more than 30 calendar days.
- When is the damage compensated?Within 15 business days after the average market price of the agricultural crop is established, the insurance company is obliged to sign the compensation with the beneficiary, and insurance coverage is issued within 15 business days after signing the Insurance Act.