Agricultural sector

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Agricultural goods
The Agricultural Goods Insurance covers all short and long cycle crops, as well as permanent plantations of coffee, cocoa, sugar cane, banana, fruit trees, flowers and their productions.
Protection is provided to the following assets:
• Tobacco, vegetables, grains, rice and food crops.
• Coffee and cocoa
• Planting sugar cane
• Sugar cane
• Banana
• Protected crops
• Citrus
• Fruit trees
• Seedbeds
• Nurseries
• Forest
• Organoponics
• Temporary flower cultivation
• Permanent plantations
• Promotion of permanent plantations

By insuring these assets, they are protected against damages or losses caused by or as a result of Cyclone (Depression, Tropical Storm, Hurricane), windsock, tornado, flood, heavy rains, hail, drought, fire, as well as pests and diseases whenever the crops have been sown on the optimal dates according to the calendars approved by the competent organisms.

In essence, the vegetative development and production of the plants are assured, with their expected costs and yields. The insurance object of a temporary crop can be the investment made to it or the yield.

Investment Insurance: Amount of direct investment to obtain the expected harvest, considering the costs per labor according to the crop, the planting season, the technology to be used and the planned area. The amount of the insured direct investment may never exceed the value resulting from the sale of the crop.

Yield Insurance: Values ​​that the producer must reach at the end of the harvest, based on an expected level of production per unit area, valued at a weighted average price. The highest yields obtained by the producer in the last 3 years or similar campaigns, the productive potential of the variety (s), the edaphoclimatic conditions in which the crop develops, will be taken as a reference, if the crop is expected in irrigated or rainfed conditions, the technology used and the experience of the producer in managing the production. In the case of new producers for the determination of the insured value, the result of neighboring producers with similar conditions will be taken into account. The consideration of the behavior of the different factors will be adjusted to what is established in the manuals and procedures.

Permanent Plantations Insurance: Sum of the values ​​of all the plants that make up the plantation, determined from their cost sheets, considering the cuts or depreciation and technology of the crop.

AMOUNT OF INDEMNIFICATION:
a) -Loss before fruiting.
Both for investment and for yield, in cases where no reseeding is carried out, 90% of the loss valued at cost for the work carried out up to the moment of its occurrence will be compensated, reflected in the inspection and appraisal act.
When reseeding is carried out, the compensation will be calculated on the basis of one hundred percent (100%) of the expenses that will be incurred for the work necessary to carry it out. In this case it will be necessary to return the insured value.
b) -Loss after fruiting.

Investment The insurance compensation will be calculated by applying ninety percent (90%) to the loss reflected in the inspection and appraisal act, according to the actual work carried out up to the moment of occurrence of the claim, valued at cost per unit of production.

Yield The compensation amount will be calculated by applying the% selected by the Insured during the insurance process to the amount of the loss reflected in the inspection and appraisal act, valued at the sale price per unit of production at which it has been agreed. insurance.

Both in investment and in yield, no compensation will be applicable, when the amount of the value of the production obtained is equal to or greater than the amount of the insured value. If compensation was made before fruiting, it will be taken into account for the purposes of calculating the production obtained.

Permanent Plantations:

1. The insurance compensation will be 100% of the value of the lost plants. In the event of partial loss, 90% of the recovery costs of the plantation for the rehabilitation of the area (pruning, sanitation and cleaning) will be paid.

Livestock Goods

The Livestock Goods Insurance covers the deaths and sacrifices of the animals, as well as the loss of their ability to fulfill the purpose to which they were intended at the time of signing the contract, provided that these occur due to or as a result of weather risks, diseases or from thirty (30) days after the entry into force of the insurance and accidents.

The following is also covered: Choking, pathological delivery, tympanism, and operative and postoperative complications, provided that these interventions have been carried out by veterinary personnel.

Within this modality, extensions of coverage or additional coverage are provided for new births, occurring during the term of the insurance, in correspondence with the birth rate predicted by the producer.

As fundamental elements to take into account in the process of insurance agreement are: the state of the facilities, assurance of the required food, compliance with the sanitary and hygienic measures, planning and compliance with the medical-veterinary measures (mainly vaccination) .

Protection is provided to the following assets:
• Cattle
• Ovino- Caprino y Cunícola
• Beekeeping Production
• Poultry
• Poultry Production
• Equid
• Pig
• Aquaculture

Livestock heritage

This insurance covers the goods of the agricultural sector against damages caused by: Cyclone, tornado, windsock, flood, heavy rain, hail, fire, explosion, seismic phenomena, collapse, falling objects and aircrafts. In some lines, specific risks can be covered such as: civil liability and crash and overturn.
These are offered for the following assets:
• Houses, Ranches and Chambers of Curing tobacco
• Finished production
• Machinery, Equipment and Transportation
• Buildings and facilities
• Tobacco stocks
• Greenhouse Structures and Blankets
• Electronic Equipment
• Breakage of Machinery

In some products such as Machinery, Equipment and Transport, Electronic Equipment and Machinery Breakage, the risks covered are specific according to the characteristics of said goods, such as civil liability and collision and overturning.

The fundamental requirements that are required for the insurance of these goods are: compliance with the construction and use standards determined by their manufacturers, as well as the storage requirements for finished productions and supplies in warehouses.

Within this modality, the applied rates are not governed by a given pattern, based on the diversity of goods that it includes. If we can point out that they are the lowest applied in the agricultural sector and that their updating is required according to the phenomena that have been affecting their claims in recent years.