The government issued Decree 58/2018/NĐ-CP on 18 April 2018, whichis the first legal instrument to deal specifically with agricultural insurance.
The most significant provision of this decree is the subsidization of insurance premiums for certain individuals/organisations and categories of agriculture:
• organisations applying advanced technology can receive a 20% subsidy;
• those engaged in arable, livestock, and/or aquaculture canreceive a subsidy from up to 90% for those classified as being in poverty, or 20% for all others.
The insured risks for the subsidized insurance premiums are natural disaster and disease.
Decree 58 will come into effect on 5 June 2018.
For more information, click ATT00542
OTHER NEWS ON THE AUSCHAM WEBSITE
In the toolbar of this website, click on “NEWS” for the drop down menu which includes: