Introduction of the agricultural insurance is a big step for the agricultural sector of Ukraine, head of the advisory program of the International Finance Corporation (IFC) "Development of agricultural insurance and financing in Ukraine" Harry Roche told a press conference, ForUm correspondent reports.
According to the expert, a farmer will get protection from unforeseen events including natural disasters.
"It will also give farmers the income stabilization and transference of losses from weather risks to insurers. The state will provide farmers with partial compensation of the insurance payments and control receiving of the insurance indemnity," the expert noted.
In turn, the insurers will get portfolio expansion and new opportunities in the international reinsurance market.
"The state increases the stability of agribusiness and improve risk management tools in this market," Roche concluded.
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