AIC provides the National Agriculture Insurance Scheme (NAIS), a weather-based crop insurance scheme
Farmers in India are opting for crop insurance in the ongoing kharif (summer crop) season, fearing insufficient rainfall that may hamper the farm productivity – reported in livemint.com
Agriculture Insurance Company of India (AIC) provides the National Agriculture Insurance Scheme, or NAIS, a weather-based crop insurance scheme (WBCIS) and a few of its own crop insurance products to farmers.
The Meteorological department has downgraded its estimate of rainfall in India by 3% points, the bleakest forecast in a decade.
K. N. Rao, Chief Manager, AIC, said: “More farmers are buying crop insurance because they fear that low rainfall may lead to a drop in their yield. Farmers, mostly, get insured when they go for bank loans but now even those who do not have any loans want to get insured, voluntarily.