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MASS INSURANCE/ GOVERNMENT SCHEMES SOLUTIONS

  • Superannuation
  • Term Policies
  • Leave Encashment
  • Employee Benefit Schemes
  • Micro Insurance Schemes
  • Group Personal Accident
  • Pension & PF Schemes
  • Group Health / Medical Insurance
  • Weather Based Schemes for Farmers
  • Income Saving Plan for Low Income Groups
  • Loss of Income Plans for Unorganised workers
  • PA, Health & Boat Covers for Fisherman community
  • Employer’s, Government Employees, Police & Military Personal Schemes

AGRICULTURE SOLUTIONS

  • Single-Risk Insurance
  • Combined Peril Insurance
  • Yield Insurance
  • Price Insurance
  • Revenue Insurance
  • Whole-Farm Insurance
  • Income Insurance
  • Index Insurance
  • Area Yield Index Insurance
  • Area Revenue Index Insurance

AGRICULTURE & CROP REINSURANCE

1. SINGLE-RISK INSURANCE:

Will cover a single risk or peril. While talking about the crop insurance methods, hail insurance is one of the most widely applied single- risk insurances.

2. COMBINED PERIL INSURANCE:

Is known as multi-risk insurance. The insurer provides coverage against more than one risk. Hail and frost is a good example of combined peril insurance. Sometimes, the coverage is extended to fire, earthquake, lightning, and other nature-related disasters.

3. YIELD INSURANCE:

Provides coverage against fluctuations in the farm yield. Thus any risk factor that affects the farm’s productivity is covered by the yield insurance. These risks can be listed as, but not limited to flood, drought, frost, hail, disease, fire, etc. Anything that affects the insurer with losses is fully or in most cases partially covered by yield insurance.

4. PRICE INSURANCE:

Provides coverage against fluctuations in the product prices. Thus, if the product price falls below a pre-specified level, indemnities are paid according to the insurance terms.

5. REVENUE INSURANCE:

Provides coverage against changes in farm revenue. Since revenue equals price times quantity, revenue insurance offers protection against both price and quantity fluctuations.

6. WHOLE-FARM INSURANCE:

Provides coverage against changes in the farm’s yield or revenue. The farm revenue insurance is a special case of revenue insurance where the farm’s entire activities are insured including but not limited to agricultural activities.

7. INCOME INSURANCE:

Provides coverage against the fluctuations in the farmer's incomes. Income is defined as the difference between revenues and costs. Thus, the income insurance covers risky changes in yield, price, as well as cost of production, since it covers all factors affecting the income of the farmers.

8. INDEX INSURANCE:

The definition of the index insurance is based on the type of the index used to determine the losses. The index insurance provides coverage against the fluctuations in farmer's yield, revenue, or any other factor that affects the farmer's income.

9. AREA YIELD INDEX INSURANCE:

coverage against fluctuations in the area-yield. The average yield of a large geographical area (such as a valley) is used as a threshold to trigger indemnity payments.

10. AREA REVENUE INDEX INSURANCE:

Coverage against fluctuations in the revenue of an area. Similar to area-yield index insurance, indemnities are based on the threshold.