The National Bank of Ukraine has approved the requirements for the admission of insurers to the insurance of agricultural products with state support. This is reported by “ProAgro Group” with reference to the information of the state regulator.
“The document significantly updated approaches to the system of agricultural insurance with state support,” – National Bank noted.
The updated approaches to agricultural insurance with state support is a part of the system to support farmers, consisting of crediting, insurance, compensation for losses from damage to crops as a result of man-made and natural emergencies, promoting the development of animal husbandry and processing of agricultural products.
The implementation of the provisions of the Law of Ukraine “On peculiarities of insurance of agricultural products with state support” provides for a number of joint activities with the development and adoption of the National Bank and the Ministry of Agrarian Policy and Food of Ukraine acts, aimed at launching agricultural insurance system. The requirements for admission of insurers to the insurance of agricultural products with state support has been approved. At the same time, the process of developing the procedure and conditions for the provision of state support of agricultural products insurance, the maximum amount of insurance rates and standardized insurance products is nearing completion.
