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Order No. 611 of the Ministry of Agrarian Policy and Food validating the Regulation on participation of insurance companies (insurers) in insurance of agricultural commodities with state support.

Country/Territory
Ukraine
Document type
Regulation
Date
2012
Source
FAO, FAOLEX
Subject
Agricultural & rural development
Keyword
Agricultural commodities Financial agricultural measures Subsidy/incentive Contract/agreement Liability/compensation
Geographical area
Black Sea, CIS (Commonwealth of Independent States), Eastern Europe, Europe, Europe and Central Asia
Entry into force notes
This Order enters into force on the date of its official publication.
Abstract

This Order establishes that insurance companies (insurers) shall be authorized to insure agricultural commodities with state support under the following conditions: (a) has experience in real estate insurance for the last two years; (b) has experience in insuring agricultural risks; (c) has qualified staff; (d) net assets must be no less than registered statutory stock; (e) guarantees insurance underwriter the opportunity to inform insurance company of the presence of insurance event and receive primary information on the procedure for compensation of losses; and (f) provide compensation of losses for insured events under agricultural insurance contracts with state support.

Full text
Ukrainian
Website
zakon5.rada.gov.ua