The Agricultural and Agrarian Insurance Board has launched an insurance programme designed to protect livestock farmers from financial losses caused by natural disasters and other unforeseen events.
The Agricultural and Agrarian Insurance Board has introduced a comprehensive insurance scheme targeting farm houses used for raising cattle, buffalo, goats, and pigs. The programme aims to address growing vulnerabilities in the livestock sector as climate variability and extreme weather events become increasingly common across the country.
Under the scheme, farmers can receive compensation of up to Rs. 2.5 million for damage sustained through floods, storms, lightning strikes, collisions, landslides, and attacks by wild animals. The premium structure requires farmers to pay 2.5% of the insured value as the base contribution, with an additional 1% charge available to cover losses from fire-related incidents.
The Board has stipulated that only farm houses constructed and maintained according to standards established by the Department of Animal Production and Health will be eligible for coverage. Officials indicated that this requirement ensures properties meet minimum safety and structural benchmarks before qualifying for protection.
The Board stated that implementing this insurance mechanism is essential for helping farmers manage mounting risks in the livestock sector. Officials expressed confidence that the scheme will strengthen farmers' ability to maintain sustainable livelihoods while safeguarding their investments in animal husbandry operations.
