The Insurance Package Significantly Protects Farmers from Weather Risks, Says Kheroyan

The Minister of Economy of Armenia, Vahan Kheroyan, has addressed agricultural insurance. According to Kheroyan, the government subsidizes a significant part of insurance premiums each year so that farmers can insure their crops against various weather risks, including hail.

“With this, we consider that we have fulfilled our function. That is, we cannot compensate farmers who have not insured their crops for the volume that insurance companies should have covered. For this, the Ministry of Economy has created a package that must be used by farming enterprises and farmers. If farmers have decided to conduct their agriculture using traditional methods and not insure their crops, that is their risk, and we do not see any additional function from our side in this regard,” he stated.

Kheroyan also assured that the government is sharply increasing the areas covered by insurance every year. “We are adding new crop types every year. In this regard, I can say that today our insurance package significantly protects farmers from weather risks,” he added.