May 2019 | Agri Review
04 June 2019

An agro insurance program was started in September 2014. The program is subsidized by the state and eight insurance companies participate in the program. The insurance package covers losses caused by hail, flooding, and storms, as well as by autumn frost (covered only for citrus). Since the beginning of the program, 49.3 thousand farmers (unique beneficiaries) have purchased insurance. The demand was particularly high in 2014 and dropped afterward due to the reduction of the state subsidy from 90% to 70%, advancements to the program start date in later years, and the introduction of new requirements throughout program implementation.

While in 2016 and 2017 there was an increasing trend in the number of insured farmers, in 2018 the number of beneficiaries declined again due to the requirement that the insured land plot be registered in the public registry.

In 2018, the highest number of farmers was insured in Kakheti (2.92 ths.) and most farmers insured vineyards (3.66 ths). From the beginning of the program until now, the program has had the highest number of insured farmers from Adjara, and citrus has been the top crop insured. This is not surprising, given that citrus is the leading crop in Adjara.