Agricultural insurance mechanism launched in Ukraine

The Ministry of Economy of Ukraine held a meeting of the working group on the development of agricultural insurance with state support, chaired by Deputy Minister Taras Vysotsky.
The procedure for providing state support for agricultural insurance establishes clear requirements for recipients of assistance. In particular, mandatory registration of agricultural producers in the State Agrarian Register (DAR) is introduced, and a check for absence on sanctions and terrorist lists and a ban on any ties with residents of the Russian Federation, Belarus and other risky jurisdictions is also provided.
At the same time, the procedure also determines the amount of state participation in insurance. The state will compensate for part of the paid insurance premiums:
up to 60% - for agricultural producers working in frontline communities;
up to 45% - for other agricultural producers.
To use the program, an agricultural producer must conclude an agreement with an insurance company that has received the relevant right in agreement with the National Bank of Ukraine, pay an insurance premium and submit an application for compensation of the established sample. Currently, these are: JSC "Insurance Company "INGO", PJSC "Insurance Company "Universalna", IC "VUSO". It is expected that the list of authorized insurers will continue to expand.
Contracts will be concluded in accordance with standardized insurance products for winter grain crops (wheat, rye, barley) for the overwintering period, for the entire growing period, or for the spring-summer period.
Clear time frames for concluding contracts have been determined for each type of product. In particular, for the spring-summer period this is March 10 - May 30, for wintering - October 15 - December 20, and for insurance for the entire growing period - from September 1 to January 20 of the following year.
Applications for compensation are submitted by April 1, August 1 or November 10, depending on the period of conclusion of the contract.
Source: https://agronews.ua/news/v-ukrayini-zapuskayetsya-mehanizm-agrostrahuvannya/