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Shandong launches pilot agriculture insurance for disasters

2017/7/13 18:01:47   source:sdchina.com

Shandong has determined to launch a trial agriculture insurance scheme for natural disasters in its 20 major grain production counties such as Shanghe County and Linzi County.

The insurance mainly covers wheat, corn and rice. It will be offered to family farmers and large scale growers who plant at least 3.33 hectares of a single crop. For family farmers, the agricultural insurance covers the cost, while for large growers it covers the cost and land use fees.

20 percent of the insurance premium should be paid by farmers. The rest will be undertaken by finance at the municipal level and above.

The pilot agriculture insurance for disasters is an important reform after the cancelation of subsidies for wheat, rice and corn planting. It will better safeguard farmers’ interests, with nearly one hundred million yuan of cost predicted to be reduced.

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Sponsor:Information Office of Shandong Provincial People’s Government