In February 2021, 1,800 agreements were concluded between farmers and insurers within the framework of the agroinsurance program, while in the entire 2020 their number reached only 1,500, writes ArmInfo, according to Ira PANOSYAN, head of the department for the development of agricultural programs at the Ministry of Economy of Armenia.

At the moment, in order to purchase insurance policies, farmers can apply to 3 insurance companies: ROSGOSSTRAKH, INGO Armenia and SIL Insurance. As PANOSYAN noted, this year, farmers can insure a total of 11 crops.

The agricultural risk insurance program was launched in Armenia back in September 2019 in a pilot mode. The sale of policies began in early 2020. The purchase of an insurance policy is subsidized by the state in the amount of 50-60%. The reinsurer is Swiss Re.