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Governmental Decree No. 2423 validating the Requirements for insurance organizations providing agricultural insurance against the risk of loss (destruction) of crops, perennial plantations as a result of a natural disaster.

Country/Territory
Russian Federation
Document type
Regulation
Date
2021
Source
FAO, FAOLEX
Subject
Agricultural & rural development
Keyword
Crops/grasses Financial agricultural measures Liability/compensation Hazards
Geographical area
Arctic, Asia and the Pacific, Black Sea, Caspian Sea, CIS (Commonwealth of Independent States), Eastern Europe, Europe, Europe and Central Asia, North Pacific, North-West Pacific
Abstract

This Governmental Decree validates the Requirements for insurance organizations providing agricultural insurance against the risk of loss (destruction) of crops, perennial plantations as a result of a natural disaster. An insurance organization must meet the following requirements: (a) experience in the performance of agricultural insurance for at least 5 years; (b) the amount of own funds (capital) of the insurance company is not less than 3 billion rubles as of March 31 of the year preceding the current one; and (c) c) financial reliability rating not lower than "ruA-" according to the national rating scale for the Russian Federation of the credit rating agency Joint Stock Company "Rating Agency "Expert RA".

Full text
Russian
Website
www.szrf.ru