Agriculture insurance in Pakistan/India/Bangladesh/Morocco/Kenya

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 Agriculture insurance in Pakistan

 

Agriculture insurance in Pakistan is a key area of focus, given the importance of the agriculture sector to the country's economy and the high level of risk faced by farmers due to factors such as climate change, pests and diseases, and market fluctuations. Here are some key developments in the agriculture insurance sector in Pakistan:

 

2008: The government launched the Agriculture Credit Guarantee Scheme (ACGS), which aimed to provide credit and insurance coverage to farmers.

 

2010: The government launched the National Agriculture Insurance Scheme (NAIS), which provided crop insurance coverage to farmers across the country.

 

2012: The government launched the Area Yield Index-Based Crop Insurance (AYIC) scheme, which aimed to provide insurance coverage for crops based on the average yield of a particular area.

 

2016: The government launched the Prime Minister's Agriculture Emergency Program (PM-AEP), which included a number of measures aimed at improving access to credit and insurance for farmers.

 

Overall, the agriculture insurance industry in Pakistan has seen significant growth and development in recent years, with a number of initiatives aimed at increasing coverage and improving the overall state of the sector. However, there are still challenges facing the industry, such as issues with data collection and analysis, inadequate funding, and low awareness and uptake among farmers. The government and other stakeholders in the country are continuing to work towards addressing these challenges and improving the overall state of the agriculture insurance industry in Pakistan.


agriculture insurance
agriculture insurance


Agriculture Insurance of India

 

Agriculture insurance is a crucial component of India's agricultural policy, given the high level of risk faced by farmers due to factors such as climate change, pests and diseases, and market fluctuations. Here are some key developments in the agriculture insurance sector in India:

 

1972: The government launched the Comprehensive Crop Insurance Scheme (CCIS), which aimed to provide insurance coverage for all crops grown in the country.

 

1985: The government launched the National Agricultural Insurance Scheme (NAIS), which provided insurance coverage for yield losses due to natural calamities such as drought, flood, and cyclone.

 

2013: The government launched the Modified National Agricultural Insurance Scheme (MNAIS), which provided insurance coverage for yield losses due to natural calamities as well as non-preventable risks such as pest attacks and diseases.

 

2016: The government launched the Pradhan Mantri Fasal Bima Yojana (PMFBY), which aimed to provide insurance coverage to farmers for all crops and all risks.

 

Overall, the agriculture insurance industry in India has seen significant growth and development in recent years, with a number of initiatives aimed at increasing coverage and improving the overall state of the sector. However, there are still challenges facing the industry, such as issues with data collection and analysis, inadequate funding, and low awareness and uptake among farmers. The government and other stakeholders in the country are continuing to work towards addressing these challenges and improving the overall state of the agriculture insurance industry in India.

 

Agriculture Insurance of Bangladesh

 

Agriculture is the backbone of the economy in Bangladesh, employing more than 50% of the population and contributing significantly to the country's GDP. However, farmers in Bangladesh face a range of risks such as floods, droughts, cyclones, and pests and diseases, which can result in significant losses. Here are some key developments in the agriculture insurance sector in Bangladesh:

 

1980: The government launched the Crop Insurance Scheme, which aimed to provide insurance coverage for crop losses due to natural disasters and other risks.

 

1994: The government established the Agricultural Insurance Company Limited (AIC), which is a state-owned enterprise that provides agricultural insurance products to farmers in Bangladesh.

 

2005: The government launched the Weather Index-Based Crop Insurance (WIBCI) pilot project, which aimed to use weather data to provide insurance coverage to farmers for crop losses due to weather-related events.

 

2011: The government launched the Agricultural Risk Management Project, which aimed to develop a comprehensive risk management system for the agriculture sector in Bangladesh, including the development of new insurance products and the expansion of existing products.

 

2016: The government launched the Agriculture Insurance Project, which aimed to expand the coverage of agricultural insurance products in Bangladesh and improve the overall state of the agriculture insurance sector.

 

Overall, the agriculture insurance sector in Bangladesh is still in the early stages of development, with low levels of coverage and limited availability of products. However, there are ongoing efforts to expand the sector and improve the availability and affordability of agricultural insurance products for farmers in the country.

 

Agriculture Insurance of Kenya

 

The agriculture sector is one of the main sources of income and employment in Kenya, and the government has taken various steps to support farmers and mitigate risks faced by the sector. Here are some key developments in the agriculture insurance sector in Kenya:

 

2008: The government launched the National Agriculture Insurance Program (NAIP), which aimed to provide insurance coverage to farmers for crop losses due to natural disasters, pests, and diseases.

 

2010: The government launched the Index-Based Livestock Insurance (IBLI) program, which provides insurance coverage to pastoralists in arid and semi-arid regions for livestock losses due to drought.

 

2013: The government launched the Agriculture Sector Development Strategy 2010-2020, which included a focus on improving access to agricultural insurance products for farmers in Kenya.

 

2015: The government launched the Kenya Livestock Insurance Program (KLIP), which provides insurance coverage to pastoralists for livestock losses due to drought.

 

2020: The government launched the Kenya Crop and Livestock Insurance Program (KCLIP), which aims to provide insurance coverage to farmers for crop and livestock losses due to various risks, including natural disasters, pests, and diseases.

 

Overall, the agriculture insurance sector in Kenya has made significant strides in recent years, with the launch of various programs aimed at providing insurance coverage to farmers for crop and livestock losses. However, there are still challenges to overcome, such as low levels of awareness and understanding of insurance products among farmers, as well as limited availability and affordability of insurance products.

 

Agriculture Insurance of Morocco

 

The agriculture sector is a key sector in Morocco's economy, and the government has taken various steps to support farmers and mitigate risks faced by the sector. Here are some key developments in the agriculture insurance sector in Morocco:

 

2006: The government launched the National Agricultural Insurance Scheme (NAIS), which provides insurance coverage to farmers for crop losses due to natural disasters, pests, and diseases.

 

2009: The government launched the Agricultural Risk Management Project (ARMP), which aims to promote the use of agricultural insurance products and other risk management tools among farmers in Morocco.

 

2010: The government launched the Weather-Indexed Agricultural Insurance Project (WAIP), which provides insurance coverage to farmers for crop losses due to drought or excess rainfall.

 

2016: The government launched the National Agricultural Insurance and Social Protection Program (NAISPP), which aims to provide comprehensive insurance coverage to farmers for various risks, including natural disasters, pests, and diseases, as well as to provide social protection to farmers and their families.

 

Overall, the agriculture insurance sector in Morocco has made significant progress in recent years, with the launch of various programs aimed at providing insurance coverage to farmers for crop losses and other risks. However, there are still challenges to overcome, such as low levels of awareness and understanding of insurance products among farmers, as well as limited availability and affordability of insurance products.


Author

 

Maryam Saeed Dogar

 

For more article, kindly read blogs by visiting at https://ihf12.blogspot.com/.

 

For more videos, kindly visit our two YouTube channels:

 

https://www.youtube.com/@imspakistan7268

 

https://www.youtube.com/@islamicfinance2538

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