The Ministry of Agriculture and Food Industry will draft a bill on the provision of damage in case of natural disasters in agriculture on condition that the farmland is insured. This is one of the solutions agreed in a new meeting that centered on insurance in agriculture, IPN reports, quoting a press release of the Ministry.
The participants in the meeting, representatives of farmers and insurance companies, proposed creating a legal framework that would motivate the farmers to insure the farmland and would exclude compulsoriness. The participants supported the idea that the insurance premiums are now too high given that a lot of risks are being insured. Thus, the insurance mechanism that is to be worked out could envision a strict number of specific types of instance that would allow reducing the insurance premium.
In conclusion, it was decided to constitute a working group that will consist of representatives of all the sides involved. This will work out an efficient legislative mechanism in the field.
