BAKU, Azerbaijan, June 20. Expansion of agrarian insurance coverage and introduction of more innovative insurance products to minimize the impact of climate change on the agricultural sector are planned soon, Azerbaijan's Agriculture Minister Majnun Mammadov said during the opening ceremony of the Azerbaijan International Insurance Forum-2024 (AIIF-2024), Trend reports.
"Our objectives in the field of agricultural insurance are extensive. Soon, we plan to expand the coverage of agrarian insurance and introduce more innovative insurance products to minimize the impact of climate change on the agricultural sector. I would also like to emphasize that the successful insurance model applied in our country is attracting interest from various states. As an example, we can cite cooperation with brotherly Uzbekistan in this direction," he emphasized.
According to him, currently, 25 percent of the country's agricultural lands are under insurance protection.
"The compensation amounts paid to farmers under insurance claims have been increasing year on year, enabling those affected to restore their operations and continue farming without interruption," he added.
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