Bharti AXA General offers crop insurance to farmers in Maharashtra, Karnataka under PMFBY
Kolkata/IBNS: Private non-life insurer Bharti AXA General Insurance announced that it has received Rs 800 crore worth crop insurance mandate for three years from the governments of Maharashtra and Karnataka to insure their farmers under the Pradhan Mantri Fasal Bima Yojana (PMFBY).
The PMFBY offers insurance cover to farmers against losses of crops during the entire cycle from preparation of sowing to harvesting and post-harvest, due to poor yield.
Said the company’s Senior Vice President & Head, Agriculture and Rural Business & Claims, Alok Shukla, “The crop insurance cover would help stabilize the income of farmers particularly in disaster times and ensure their continuance in farming.”
Farmers in the districts of Ahmednagar, Nashik, Chandrapur, Solapur, Jalgaon and Satara in Maharashtra and Dharwad, Mysuru and Kodagu in Karnataka can insure their Kharif crops till July 31 through their respective banks or authorized representatives of the company.
Said Sanjeev Srinivasan, Chief Executive Officer & Managing Director, Bharti AXA General Insurance, "Apart from implementing crop insurance for farmers in both the states, we will also capitalize on innovative technologies and digital capabilities for sharing relevant information about the PMFBY and ensure speedy and hassle-free claim assessments in the respective districts.’’
Srinivasan said all farmers including sharecroppers and tenant farmers growing the notified crops in the notified districts are eligible for crop insurance coverage.
According to a release from Bharti AXA General Insurance, it has been participating in the government-sponsored crop insurance scheme for the past many years and insured 28.44 lakh farmers from different states Bihar, Karnataka, Gujarat, Jharkhand and Maharashtra.
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