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Our Bureau

New Delhi , Jan. 17

IFFCO-TOKIO General Insurance on Tuesday announced the launch of a weather insurance policy for the wheat farmers in the country.

The policy provides cover against potential loss in wheat yield, arising out of frost, heat stress due to adverse temperatures during the rabi season (November-March) and untimely rainfall, said a release.

The policy would provide insurance cover in case of frost during January based on the daily minimum temperature. The policy also includes a heat stress cover for the wheat crop for March against excessive heat. Moreover, it would cover potential damage to crop due to unexpected rainfall occurring in maturity stages during March or April.

The company would obtain temperature data for the current months from the IMD (Indian Meteorological Department) and the claim settlement process would be based on the same data.

The claims assessment is based on temperature and rainfall data. The claims of the farmers would be settled in 30 days from the availability of data from the IMD post expiry of the cover period, added the release.

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