Law No. 31 “On the particulars of insurance in crop production”. Country/Territory Kyrgyzstan Document type Legislation Date 2009 (2021) Source FAO, FAOLEX Subject Agricultural & rural development, Cultivated plants Keyword Crops/grasses Hazards Financial agricultural measures Subsidy/incentive Liability/compensation Contract/agreement Geographical area Asia, Central Asia, CIS (Commonwealth of Independent States), Europe and Central Asia, Landlocked Developing Nations, North Asia Entry into force notes This Law enters into force three months after the date of its official publication. Abstract This Law establishes the particulars of insurance in crop production and regulates the legal, financial and organizational basis for its implementation. The object of insurance in crop production is material and monetary interests of the insured related to partial or full compensation of losses of the insured person upon the occurrence of an insured event, the amount of which is established in accordance with this Law. The objectives of insurance in crop production are: (a) ensuring the protection of the material and monetary interests of the producer of crop production from the consequences of adverse natural phenomena through the implementation of insurance payments in case of insured events in the amount and in the manner prescribed by this Law; and (b) preventing a sharp decline in the income of producers by providing assistance in improving the efficiency of state support of crop production. Insurance of crop production is voluntary with participation of the state. If a rural commodity producer intends to insure other types of agricultural crops, he has the right to carry out relationship with the insurer in accordance with regulatory legal acts in the field of insurance. Insurance organizations enter into insurance contracts in the field of crop production in accordance with this Law. Insured events in insurance in crop production include destruction or damage to crop products affected by unfavorable natural phenomenon or their combination, due to which incurred losses (damage) to the insured. The amount of the sum insured is established by the contract concluded with the consideration of the specifics of insurance determined by this Law, separately for each type of crop production in accordance with the standard costs per hectare, multiplied by the entire area on which the insured carries out the costs of growing this type of crop production. State support for insurance in crop production is carried out by allocating budgetary funds determined by the law on the national budget for the corresponding financial year for reimbursement of fifty percent of insurance payments to insurers under insured events resulting from adverse natural phenomena, as well as payment to insurers of fifty percent of insurance contributions under concluded contracts. Full text Russian Website cbd.minjust.gov.kg