Policy insurance introduced by the government of the Ningxia Hui Autonomous Region is proving effective in managing agricultural operating risks, boosting agricultural development, and raising farmer’s incomes.
By the end of 2010, around 215,000 domestic animals, 21,000 hectares of crops and 21,000 farmers were covered by insurance. Around 23.6 million yuan (US$ 3.6 million) had been paid out in insurance claims to around 15,000 farmers, according to a report in the trade paper Sino-Insurance.
The Ningxia Bureau of the China Insurance Regulatory Commission and other supervising departments in the Region have jointly set up an agricultural damages appraisal committee to protect the interests of the insured farmers.
