HDFC ERGO's weather insurance for Jharkhand farmers
HDFC ERGO General Insurance Company Ltd, India's 4th Largest General Insurance Company has been allowed by Government of Jharkhand to implement Pilot Weather Based Crop Insurance Scheme (WBCIS) for Loanee and Non Loanee farmers for Kharif 2013. The crops to be covered are Paddy in Palamu and Chatra districts of Jharkhand. Weather Based Crop Insurance Scheme offers insurance cover against losses of farmers due to aberrant weather conditions during the crop cycle.
On this occasion, Mr. Anuj Tyagi, Member of Executive Management and Head — Corporate Business and Rural & Agri Business, HDFC ERGO said, “In India, weather conditions are very aberrant and due to such weather conditions during the crop cycle farmers suffer losses. We are pleased to introduce HDFC ERGO Weather Based Crop Insurance Scheme which offers insurance cover to farmers against such losses.”
Claim amounts will be settled on the basis of data taken from reference weather stations mentioned in the scheme and managed by independent third party organization. HDFC ERGO is one of the leading weather insurers and have insured more than 20 lakh farmers across 9 states during 2012-13.
About HDFC ERGO General Insurance Company Limited
HDFC ERGO General Insurance Company Limited is a 74:26 joint venture between HDFC Limited, India’s premier Housing Finance Institution and ERGO International AG, the primary insurance entity of Munich Re Group. HDFC ERGO offers complete range of general insurance products ranging from Motor, Health, Travel, Home and Personal Accident in the retail space and customized products like Property, Marine and Liability Insurance in the corporate space.
HDFC ERGO is the 4th largest private sector general insurance company in India. HDFC ERGO has been expanding its presence across the country and is today present across 71 cities with 81 branch offices with an employee base more than 1400 professionals. The company has a wide distribution network comprising of brokers, retail and corporate agents, bancassurance besides its own direct sales force. HDFC ERGO has been assigned the rating of ‘iAAA’ by ICRA indicating its highest claim
paying ability. The company also has ISO certification for its claim services.