News
21.08.2012
Mykola Prysyazhnyuk: The state is going to provide financial support to insurance of agricultural crops
Mykola Prysyazhnyuk: The state is going to provide financial support to insurance of agricultural crops
This year it has been provided an introduction of state financial support to insurance of agricultural crops that will make it possible to minimize farmers’ losses. This was reported by Mykola Prysyazhnyuk, Minister of Agrarian Policy and Food during a meeting board of Agrarian Policy Ministry. «On July 1, the Law „On peculiarities of agricultural products insurance with state support» comes into force. According to it, the government launches a program of financial support, which provides insurance of agricultural crop production in the event of it loss. This year’s state budget provides 70 million UAH of compensation for insurance against loss of winter wheat during wintering," Mykola Prysyazhnyuk noted. The Minister added the Government has currently decided to approve the procedure and the terms of state support to agricultural producers in insuring of agricultural crops through cheapening insurance payments (premiums) and the types of insurance products to which in 2012 it is available compensation for the cost of insurance premiums. Mykola Prysyazhnyuk also explained that insurance of agricultural production with state support would be applied practically in the event of it loss due to the onset of certain insurance risks, which are set separately for each type of insurance product.
