AP authorises HDFC ERGO to implement crop insurance scheme

HYDERABAD:

HDFC ERGO General Insurance Company

on Thursday announced that it has been authorised by the Andhra Pradesh government to implement weather-based crop insurance scheme (WBCIS) for farmers of groundnut, sweet lime, tomato, chillies, cotton and oil palm crops in Anantapur, Chittoor, East Godavari, Guntur, Kadapa, Kurnool, Prakasam and West Godavari districts.

The WBCIS offers insurance cover against losses incurred by farmers due to aberrant weather conditions during the crop cycle i.e. sowing to harvesting stage of the crop. Farmers can contact their respective banks and

HDFC ERGO

authorised agents to get the cover, the release said.

WBCIS uses adverse weather parameters like rainfall, temperature, frost and humidity, among others, to determine the anticipated loss in the crop yield to compensate cultivators for the deemed loss of crop. The claim amounts are settled on the basis of data taken from reference weather stations.

HDFC ERGO General Insurance Company is a 51:49 joint venture between HDFC Ltd and

ERGO International AG

, the insurance entity of the

Munich Re Group

of Germany