Agricultural insurance risks announced


April 26, Fineko/ The new Draft Law on Agricultural Insurance defines the risks for agricultural insurance in Azerbaijan.

In accordance with Article 5 of the Draft Law (Risks of Agricultural Insurance) the agricultural producers are insured against one or more of the following risks of agricultural insurance:

1. Natural phenomena, including natural disasters

2. Fire

3. Accidents

4. Infectious diseases and poisoning

5. Attacks of wild animals and breeding of especially dangerous pests

6. Third party actions

The new law regulates relations relating to insurance in the agricultural sector through the mechanism of joint insurance, determines the legal, economic and organizational basis of agricultural insurance.