TARSIM launches the District Based Drought Yield Insurance

TARSIM, the Turkish Agricultural Insurance pool, has added this year a new item to the coverage offered to the local farmers: the District Based Drought Yield Insurance.

In recent years, agricultural activities have been significantly affected by changing climate conditions, natural disasters and risks that have increasing frequency and severity. In parallel with these changes TARSİM's importance is increasing day by day.

With this new cover which was initiated with the valuable supports of foremost Ministry of Food, Agriculture and Livestock, Undersecretariat of Treasury and all relevant parties, Agricultural Insurance Pool provides coverage for such yield loss in the wheat cultivated in dry farming areas registered to the Farmers Registration System due to drought, frost, warm wind and hot weather wave, excessive humidity, excessive precipitation and risks other than hail package (hail, storm, whirlwind, fire, landslide, flood, earthquake). In case the district's actual yield average is below the district's yield value threshold in the pertinent year, all insured producers in the district shall be eligible to the compensation. Where the district's actual yield average is equal to or above the district's yield value threshold in the pertinent year, no indemnity shall be paid to the insured producers in the district.

Government provides 60% premium subsidy and farmers may also benefit from various discounts at the same time. In order to apply farmer shall register with the Farmer Registration System or update their record. After the registration process farmers may easily apply insurance through agencies of the authorized insurance companies.

In 2018 four more crops (barley, rye, triticale and oat) will be included into the District Based Drought Yield Insurance.

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