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Future Generali settles Rs 276 Cr PMFBY crop insurance claims during COVID-19 lockdown

PMFBY offers start to end insurance cover against losses of crops during the entire cycle from preparation of sowing to harvesting and post-harvest due to poor yield


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Future Generali India Insurance Company Limited (FGII), the general insurance arm of the joint venture between retail giant Future Group and global insurer Generali, has settled Rs 276 crores of Pradhan Mantri Fasal Bima Yojana (PMFBY) claims during the COVID-19 lockdown period.
 
The company has paid PMFBY crop insunrance claims in districts of Karnataka (Belagavi, Chamrajnagar, Bagalkote, Raichur, Ramnagar, Tumkur, Yadgir), Rajasthan (Ajmer, Kota, Sawai Madhopur, Jaipur, Pali, Pratapgargh) and Maharashtra (Ahmednagar, Buldana, Nanded, Satara, Yavatmal). The claimed amount has benefitted 164,917 loanee farmers and 85,460 non-loanee farmers in 19 districts of these three states. Out of which, 38,928 female farmers received claims amounting to Rs. 44.32 crore via Direct Beneficiary Transfer (DBT).
 
Anup Rau, MD & CEO, Future Generali India Insurance Company said, “Shortage of labour force and breakdown in supply chains has left many farmers struggling to sell their crops. In these testing times, we fast-tracked our settlement process which benefitted more than 2.5 lakh farmers so far.”

Pradhan Mantri Fasal Bima Yojana (PMFBY) offers start to end insurance cover against losses of crops during the entire cycle from preparation of sowing to harvesting and post-harvest due to poor yield.

PMFBY Claims Paid in Lockdown Period

States

Benefited Farmers

Paid Claim Amount (Rs. Cr)

 

Karnataka

79,525

92.11

 

Rajasthan

142,255

159.62

 

Maharashtra

28,597

23.96

 

Grand Total

250,377

275.69

 

 

State

Districts where the claim is paid

Karnataka

Belagavi, Chamrajnagar, Bagalkote, Raichur, Ramnagar, Tumkur & Yadgir

Rajasthan

Ajmer, Kota, Sawai Madhopur, Jaipur, Pali, Pratapgargh

Maharashtra

Ahmednagar, Buldana, Nanded, Satara, Yavatmal

 

PMFBY claims paid in lockdown

Total Claim Paid during Lockdown

275.69 Cr

 

Number of Benefited farmers

250,377

 

Loanee Farmer

164,917

 

Non loanee Farmer

85,460

 

Female Benefited Farmer Count

38,928

 

Male Benefited Farmer Count

211,116

 

Others Benefited Farmer Count

333

 

 

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