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Insurance Co. to settle Crop Insurance Claim worth Rs. 277 crores

The United India Insurance company to clear claims of over 2 lakh farmers from 6 districts of Rajasthan under PM Crop Insurance Scheme.

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The State Agriculture Minister Prabhu Lal Saini revealed that the United India Insurance Company is going to settle the crop insurance claims worth INR 277 Crores for over 2 Lakhs farmers in 6 districts of Rajasthan. These are the pending claims that need to be disbursed among the farmers who are entitled to be benefited by the Prime Minister Crop Insurance Scheme for the Kharif crop yield in 2016.

Reportedly, the United India Insurance Company had disbursed INR 53.21 Crores to farmers in 6 districts namely Churu, Jalore, Sri Ganganagar, Udaipur, and Sirohi. The minister further revealed that the company will be soon depositing the claims worth INR 276.95 Crores in the accounts of 2, 12,362 farmers.

The total sum assured for the Kharif season 2016 was INR 10,000 Crores for which the premium amount of INR 2024 Crores was paid. Of this total amount, INR 216 Crores was paid by farmers while the rest of the amount was paid by the state and centre.

In the last 4 years, the benefits of the Prime Minister Loan scheme has reached to 2.32 Crore farmers. Besides, premium worth INR 5580.71 Crores has been paid and insurance claim worth INR 5273.53 Crores was claimed.

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