- Are insured and reinsured on treaty basis such crops as winter wheat, winter rye, spring barley, corn, sunflower seeds and sugar beet, rapeseed, buckwheat, soy beans, oat, peas, millet.
- Valuation basis is future crop value. The value of 1 ton of grain should be agreed between Insurer and Insured.
- The cover is provided in accordance with the Law on the State support of Agriculture in Ukraine against the following risks: Hail and secondary diseases, Fire, Frosts, Ice Crust, Mudflow, Earthquake, Drought as a lack of Precipitation, Windstorm, Heavy Downpour, Flood, Insects, Excessive Moisture Preventing Harvesting.
- Deductibles is fixed as percentage of the TSI, it can be 30%, 40% and 50% of the TSI.
- The rate is based on the Rayon Yield Index gross rates with 30% increase of the Yield Index rate for the corresponding Rayon.
- The yield level required by Insured should be confirmed by the Form 29-SH for at least 3 years.
- The yield insured is the combined harvester tank weight.
- Period of insurance: from the appearance of the shoots until a date, which varies depending on crop type, or until harvesting, whatever happens earlier.
- Pre-insurance survey and loss adjustment on every insured peril and loss occurrence is compulsory.
- Minimum size of the acreage per farm 300 ha.
- Triggers:
- occurrence of the insured peril;
- loss due to the insured peril.
- Confirmation of insured perils occurrence should be done by closest Hydrometeo station through issuing a certificate.
- Pre-insurance surveys and Loss assessment by Agrorisk Ukraine Ltd.
- Reporting about insured event by Insured during 3 working days.
Agricultural insurance:
underwriting, assessment, placement
underwriting, assessment, placement