Press briefing of Cabinet Decision taken on 2019-09-03

Reinsurance covering activities for Maha season 2019/20 and Yala Season of 2020 for compulsory crop cultivation insurance

Measures have been taken in the year 2018 to enter into a reinsurance coverage to mitigate the financial risk to be born by the Government and the Agricultural and Agrarian Insurance Board in the payment of compensation for loss/damage reimbursement at a natural disaster. Accordingly, the proposal made by the Minister of Agriculture, Rural Economic Affairs, Irrigation and Fisheries & Aquatic Resources Development, to carry out the reinsurance activities for the compulsory crops for Maha season 2019/2020 and Yala season 2020 under the proper procurement procedures, in order to implement the compulsory cultivation insurance more productively, and to expand the crop insurance coverage subject to charging a suitable insurance premium from the farmers for the damages caused by diseases, pests and wild animals and to include the same to the reinsurance coverage as well, was approved by the Cabinet.