The Agricultural insurance programme was put into force on September 1 2014 and is purposed to develop the insurance market in agricultural sector, promote agricultural activities, retain the income for the individuals with the occupation of the mentioned activities and reduce risks.
The programme is implemented by non-commercial legal entity "Rural Development Agency". The Agency concludes contracts with the relevant insurance companies licensed under the rules envisaged by the legislation of Georgia in order to implement the project. The Agency also carries out insurance premium subsidies and their monitoring based on the above-mentioned contracts.
Interested beneficiaries will be able to purchase insurance policy from 8 insurance companies operating in Georgia:
According to the programme beneficiary can insure the land parcel up to 10 hectares. Each insurer of the land parcel in case of cereals 50 hectares, (This restriction does not apply to agricultural cooperatives) will receive 70% - co-financing for each crop envisaged under the program and 50% in case of vine (In case of agricultural cooperatives, the amount of insurance premium subsidies by the Agency per insurer/beneficiary shall not exceed 50 000 GEL). In addition, the insurer may have insured cereals crops as well as other crops at the same time. According to the program, the fixed insurance tariff will be determined.
Only registered land plots will be insured.
Rules of insurance compensation and deduction of franchise (minimum rate to be compensated) have been improved and made compliant with the requirements of the customers during the current year. In the event of one and the same risk occurrence, if the second insurance event takes place before making up the act of inspection of the damaged territory (plot) due to the previous insurance event, franchise shall be deducted once-only provided that the insurer had been notified about both events under the rules of the given programme. The Waiting Period includes 4 calendar days.
Georgian Rural Network Support Unit (NSU) is set up in the Managing Authority under the Ministry of Environmental Protection and Agriculture of Georgia. This website has been produced with the assistance of the European Union. Its contents are the sole responsibility of the site administrator and do not necessarily reflect the views of the European Union.
