Regional project on Disasters risks insurance (Europa Reinsurance Facility Ltd.), whose implementer is the Insurance Supervision Agency (ASO) continue implementing the planned activities. Within the project activities a new idea is being promoted and that is introducing a new concept of agricultural insurance. Therefore, on 11/18/2013, Europa Re team and Mr. Charles Stutly consultant for agricultural insurance made his presentation to the representatives of insurance companies that sale agricultural insurance policies and to the ASO employees.
The presentation gave explanation about the characteristics of three types of insurance in the agriculture: 1) agricultural risk insurance (Named Peril Crop Insurance), 2. Insurance against multiple agricultural risks (Multi Peril Crop Insurance) and 3. indexed insurance on realized yields in a specific area (Area Yield Index Insurance-AYII). Particular attention was paid to the third type of insurance (AYII) that will enable better protection of the agricultural production and provide better risk coverage.
