The Ministry of Finance, the Ministry of Agriculture and Rural Affairs, and the State Administration of Financial Supervision issued a notice today (21st) to fully implement the full cost insurance and planting income insurance policies for the three major food crops of rice, wheat, and corn nationwide starting this year.
The notice pointed out that the full cost insurance protection level covers the total cost of agricultural production such as physical and chemical costs, land costs and labor costs; the planting income insurance protection level reflects the price and output of agricultural products and covers the output value of relevant agricultural products.
In terms of subsidy policies, provincial fiscal premium subsidies shall not be less than 25%threecardpokerstrategyOn the basis of, the central government subsidizes 45% to the central, western and northeastern regions, and 35% to the eastern region. On the basis that the relevant central units bear no less than 10% of the premiums, the central government will implement premium subsidies to the relevant central units based on the subsidy proportion of the place where the planting business is located.
In terms of insurance plans, the insurance liability of full cost insurance should cover major local natural disasters, major pests, pests and mice, accidents, wild animal damage and other risks, and the insurance liability of planting income insurance should cover income caused by fluctuations in agricultural product prices and yields. Loss. The insurance premium rate is determined in accordance with the principle of capital preservation and low profit. Underwriters should ensure that the comprehensive expense rate of agricultural insurance does not exceed 20%.
It is understood that starting from 2018, the Ministry of Finance and relevant departments will start to carry out pilot projects of full cost insurance and planting income insurance for the three major grain crops. In 2021, it will be officially implemented in major grain-producing counties in 13 major grain-producing provinces, and will be further expanded to all major grain-producing counties across the country in 2023., this year, will be fully implemented nationwide.
(CCTV reporter Tian Qiyong and Li Xia)
