Payment of more than 2 billion Rials in compensation to the insured under the agricultural sectors of Sistan and Baluchestan, Iran

Published Oct 16, 2021

Tridge summary

The article highlights the significant role of insurance in supporting the agricultural sector in Sistan and Baluchestan province, as revealed by Mohammad Ali Nikbakht, a senior official at the Agricultural Bank. During the 140-4 crop year, over 2.3 million Rials in insurance compensation was distributed across various agricultural sectors, with the majority of the compensation going to agriculture. The period saw record compensation for drought victims, reaching 25.444 billion rials, to help those insuring wheat, barley, and safflower during a particularly challenging year. This initiative has proven crucial in mitigating financial losses due to adverse weather conditions and other risks, underlining the importance of insurance coverage in agricultural communities.

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Original content

According to ISNA - Mohammad Ali Nikbakht, referring to the capabilities of the agricultural sector, emphasized: by finding issues and problems of insurers, with the help of all stakeholders and influential people to develop insurance and contract crops as a necessity under the agricultural sector Be. Deputy of Insurance Services of Sistan and Baluchestan Province Agricultural Bank said: During the 140-4 crop year, more than 2 billion and 3 million Rials of insurance compensation has been paid to farmers under the agricultural, horticultural, livestock, poultry and natural resources sectors. Abdul Hamid Firoozi added: This amount of compensation was paid to more than 5 thousand and 8 insurers under different agricultural sectors of Sistan and Baluchestan province. He specified: The highest payment was under the agriculture sector, which has allocated more than 24 ...

Source: Isna