TALLINN – Estonia's Minister of Rural Affairs Mart Jarvik has signed a regulation on agricultural insurance support provided in the framework of the Rural Development Plan 2014-2020, which is aimed at directing agricultural producers towards more informed managing of their risks.
A total of two million euros has been earmarked for the payment of agricultural insurance support under the Rural Development Plan 2014-2020. The first call for proposals has been scheduled for June 2019 and the size of the budget of the call is one million euros, the Ministry of Rural Affairs said on Thursday.
"It's essential to ensure the stability of agricultural companies and reduce the financial damage that can arise from production risks. Agricultural insurance support indeed helps reduce the risks related to agricultural production. Developing the principles of risk management also is one of the fundamental principles of the agriculture and rural life chapter of the coalition agreement of the new government," the minister said according to spokespeople.
The support will be provided for the payment of premiums in the insurance of cereals or legume vegetables, hayseed, oil crops, potatoes, vegetables, fruit, berries, fruit trees, berry bushes, tree nursery plantations, ornamental plants, bovine animals, pigs, sheep, goats, horses with the exception of competition horses and racehorses, poultry and bee colonies, spokespeople for the ministry said.
Farmers are to be compensated for up to 70 percent of the payments made by them under insurance agreements covering damage in the event of adverse weather, animal diseases or plant diseases, pest infestations, and an adverse environmental event.
Applications for the support have to be filed via the online service environment of the agricultural registers and information authority (PRIA), which will decide about the application within 30 workdays of the submission of the application.