27 october 2012

Government resolution on agricultural insurance supported by the state in 2012

The issue was discussed at a Government meeting on October 25, 2012. The following decisions were adopted:

1. The Federal Service for Financial Markets, the Ministry of Finance, the Ministry of Agriculture, regional executive authorities and associations of insurers dealing with agricultural insurance are to report to the Government on the review of insurers' obligations under the 2012 agreements with agricultural producers supported by the Government. Deadline: March 1, 2013.

2. The Ministry of Agriculture, the Ministry of Finance, the Federal Service for Financial Markets, regional executive authorities and associations of insurers dealing with agricultural insurance are to analyse the compliance with the Federal Law on Government Support of Agricultural Insurance and amendments to the Federal Law on the Development of Agriculture.

If required, proposals on improving the above stated federal law are to be submitted to the Government in accordance with the established procedure.

3. The Ministry of Agriculture, the Ministry of Finance, the Ministry of Economic Development, regional executive authorities and associations of insurers dealing with agricultural insurance are to consider changes to the risk of harvest loss criteria under the insurance contracts supported by the Government or grading the criteria in the regions, as well as a possibility of insuring the harvests in certain areas.

4. The Ministry of Agriculture, the Ministry of Finance, the Ministry of Economic Development and regional executive authorities are to develop measures to motivate agricultural producers to insure harvests, and report the results to the Government in accordance with the established procedure. Deadline: February 10, 2013.