Bajaj Allianz, a private player in general insurance sector has launched a weather based crop insurance scheme for orange crops in Nagpur, Hingoli and Washim districts of Maharashtra. The index-based insurance policy approved by the state and central government will cover losses incurred by orange fruit-growing farmers due to deviation in weather conditions. The company has launched an awareness campaign in these districts. Any losses incurred will be compensated based on pre-defined weather terms. Farmers who have taken loan through Kissan Credit Card (KCC) would automatically get insured (for the scheme) by their banks.
Company Profile : Bajaj Allianz General Insurance Co Ltd