Provincial People’s Committee Vice-Chairman Tran Van Nam made the statement at a conference reviewing the province’s pilot program on agricultural insurance between 2011 and 2013 on March 20.

Mr.Nam said: “Agricultural insurance is an indispensable trend with the desire towards a modern economy. Regarding social aspect, agricultural insurance is of great significance for farmers, especially poor houses and near-poor ones in improving their lives. Hence, relevant agencies need to speed up propaganda among farmers so that they can voluntarily join agricultural insurance; adjust policies on agricultural agriculture to ensure participants’ rights and interests…”.

As of December 2013, Bao Minh Insurance Company signed 93 agricultural insurance contacts on 1,851 pigs and dairy cows of 75 breeding households, including 12 poor households, 15 near-poor ones, with a total premium of more than VND12bln. During the pilot program, there were 8 breeding households receiving compensation with a total value of VND277.4mln.

It is known that after nine localities with pilot programs on agricultural insurance complete their review activities, the Government will adjust policies on agricultural insurance and then implement agricultural insurance across the country.

Reported by Khanh Vinh-Translated by K.T