The Georgian agro-insurance program will undergo changes amid frequent natural disasters.

The state program will likely expand to aid farmers cut their losses. The existing insurance system covers natural disasters, but not all climate hazards or crops.

A separate problem is the delay in damage assessment and accurate accounting.

If you own agricultural land with annual or perennial crops, the state offers agricultural insurance against natural events, which can assist reduce potential risks while maintaining revenue. Hail, floods, storms, and fall frosts – you can protect your crop from all of these natural catastrophes by purchasing the proper insurance.

To obtain the insurance, the farmer will just need to wait four days, which implies that the package will be active four days after purchase. As a result, the Rural Development Agency recommends recipients insure their crops promptly.

The primary obstacle, according to the farmers, is the insurance companies’ tardy response. However, as noted by the Agency, precise timeframes have been created during which insurance officers must visit the site to assess damage. For example, a two-week term for annual crops, and three weeks for perennial crops, and assessors have 30 days to calculate citrus crop losses.

The Farmers’ Association reports several issues with the crop insurance program. They believe that it should be expanded to include all crops as well as cover other climate threats.

Ilia Kunchulia from the Georgian Farmers’ Association, says “In addition to the lack of information, the program is outdated.”

The Deputy Director of the Rural Development Agency stated that by 2024, “the agricultural insurance program will be targeted at farmers and offer more favorable conditions.”

As of 2023, nearly 15,000 insurance policies were sold to 8,000 recipients, totaling 16,500,000 GEL. Insurance firms paid out more than 15 million GEL in compensation for losses.

The Rural Development Agency urges farmers to duly purchase policies and protect their crops from climatic risks.