AZERBAIJAN: proposals made to expand the list of objects of agricultural insurance

12 July 2022 — Marina MAGNAVAL
Several proposals to expand the list of objects of agricultural insurance have been presented to the government of Azerbaijan, Trend wrote referring to the insurance expert Kamran BABAYEV.

"According to these proposals, it is expected that the number of objects of agricultural insurance in the list will be expanded. First, these are almost all fruits, melons, and other crops. The list of livestock subject to insurance will also be expanded. That is, the mechanism of agricultural insurance will constantly expand, and the scope of services, respectively, too", explained BABAYEV.

As he noted, development of agriculture is impossible without insurance and state support. "Agricultural production is associated with very high risks. Both around the world and in Azerbaijan, climate change is now observed, and this requires risk minimization. And one of the effective mechanisms for minimizing risks is agricultural insurance. According to the K?ppen climate classification, there are 9 out of 11 climate types in Azerbaijan. Most of Azerbaijan is in the subtropical zone. There is a semi-desert climate, a dry steppe climate, a subtropical, medium, and cold climate. Geographical location of the country provides great opportunities for development of agriculture and, consequently, agricultural insurance", the expert said.

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