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
Paid Claim Amount (Rs. Cr)
Districts where the claim is paid
Belagavi, Chamrajnagar, Bagalkote, Raichur, Ramnagar, Tumkur & Yadgir
Ajmer, Kota, Sawai Madhopur, Jaipur, Pali, Pratapgargh
Ahmednagar, Buldana, Nanded, Satara, Yavatmal
PMFBY claims paid in lockdown
Total Claim Paid during Lockdown
Number of Benefited farmers
Non loanee Farmer
Female Benefited Farmer Count
Male Benefited Farmer Count
Others Benefited Farmer Count