12:44 - 25.02.2025

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February 25, Fineko/abc.az. Over the past 20 years, the number of natural phenomena in Azerbaijan has more than tripled, ABC.AZ reports, quoting Azer Mammadov, Head of the Department of International Cooperation & Research at the Agricultural Insurance Fund.

He noted that during the reported term, the number of hail cases grew 3-fold, floods - 12-fold, and days with strong winds and storms - 18-fold.

"This once again confirmed the importance of the agricultural insurance mechanism. In general, the Agricultural Insurance Fund covers insurance of livestock, crop and agricultural products.

Since 2020, that is, after the start of the Agricultural Insurance Fund, there has been a sharp increase in collected insurance premiums. So, by 2024, 14.2 million manats of insurance premiums were collected within the agrarian insurance mechanism," he said.