The state will reimburse farmers 50% of their insurance premiums

Uzbekistan

On March 17, the Senate approved the law "On insurance of agricultural risks" aimed at protecting farmers from the effects of climate change, natural disasters and other risks. This was reported by the press service of the upper chamber of the Oliy Majlis.

The state will reimburse farmers 50% of their insurance premiums
The document provides for the creation of an agricultural insurance fund, through which agricultural producers will be provided with compensation for losses and a stable income. 50% of the insurance premium will be reimbursed by the state, and in the event of a shortage of funds in the Fund, payments will be covered by the state budget.

Independent experts will assess the damage. The law also establishes a mechanism for state support and the rights of insurance participants.

The adoption of the law will ensure economic stability for farmers, reduce the impact of risks and increase the investment attractiveness of the sector.

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