Mango Weather Insurance
Mango Weather Insurance is a mechanism for providing effective risk management aid to those individuals and institutions likely to be impacted by adverse weather incidences.
Benefits of Weather Index Insurance:
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Trigger events like adverse weather events can be independently verified and measured.
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It allows for speedy settlement of indemnities, as early as a fortnight after the indemnity
period.
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All growers-irrespective of Loanee or Non-loanee; Small /Marginal; Owners or tenants/Sharecroppers can buy Mango Weather Insurance.
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It reduces loan default risk, so better terms on interest rates can be offered by financial institutions.
Coverage
AIC hereby agrees to compensate the insured against the likelihood of diminished mango output/ yield resulting from Actual rainfall in excess of the trigger levels, absolute deviations in daily temperature & wind speed above the defined limits.
Period of Insurance:
The insurance operates during the months of December to June. However the period is different for different parameters and sections.
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