HDFC ERGO General Insurance Company Ltd has been authorised by Government of Andhra Pradesh to implement Weather Based Crop Insurance Scheme (WBCIS) for loanee and non-loanee farmers. The farmers who are cultivating groundnut, sweet lime, tomato, chillies, cotton, oil palm crops in Anantapur, Chittoor, East Godavari, Guntur, Kadapa, Kurnool, Prakasam, West Godavari districts will be covered under the scheme. All the products under (WBCIS) are approved by the Department of Agriculture, Government of Andhra Pradesh. The scheme offers insurance cover against losses of farmers due to aberrant weather conditions during the crop cycle – sowing to harvesting stage of crop. Farmers can contact their respective banks and HDFC ERGO authorised agents to get the cover.
WBCIS uses adverse weather parameters like rainfall, temperature, frost and humidity to determine the anticipated loss in the yield of crop to compensate cultivators for the deemed loss of crop. The claim amounts will be settled on the basis of data taken from reference weather stations mentioned in the Scheme and managed by Government of Andhra Pradesh.
Company Profile : HDFC ERGO General Insurance Co Ltd