SBI General Insurance is looking at doubling its crop insurance cover during the current fiscal. The PMFBY has replaced two existing crop insurance schemes: the National Agricultural Insurance Scheme (NAIS) and the Modified NAIS. However, a central government official said even for Kharif crops, the state-owned general insurers can provide cover in association with AIC. “We have underwritten premium to the tune of Rs.100 crore in the crop insurance segment in the last fiscal and we are looking at doubling our crop insurance cover during the current fiscal thanks to PMFBY,” SBI General Insurance managing director Pushan Mahapatra said. Photo: Hindustan TimesMumbai: The government has allowed all the four public sector general insurers to participate in its farm insurance schemes—the Pradhan Mantri Fasal Bima Yojana (PMFBY) and Unified Package Insurance Scheme.

Source: Mint July 03, 2016 09:56 UTC