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Aldagi pays up to GEL2 million to the affected farmers

By Anastasia Sokhadze
Tuesday, August 4
Aldagi is the only company in Georgia that compensates farmers insured under the state agro-insurance program immediately after the loss. This payment system was introduced by Aldagi two years ago. Before, the payment depending on the actual price of the product, today Aldagi manages to reimburse customers immediately after the loss, according to the price recorded in the policy.

With the help of this scheme, farmers receive the money as soon as the loss occurs, which reduces the risks in their activities and allows them to continue farming smoothly.

“This year's disaster was quite serious. We have been able to estimate the losses, our customer service as soon as possible and are currently completing the enrollment process. Our farmers are convinced that farming without insurance is very risky,” stated Aldagi.

"Insurance companies will complete the calculation of the damage caused by the disaster as soon as possible,” said Natalia Kharatishvili, Head of the Project Operations Department at the Rural and Agricultural Development Agency after seeing the damages that have been caused in Kakheti on May 10th, 2019.

According to Kharatishvili, within the framework of the agricultural anti-crisis plan, the state is constantly improving the conditions of agro-insurance. In particular, agro-insurance for perennial crops has grown to three years.

The governor of Kakheti noted that the anti-hail system works effectively, but there are exceptions and the insured farmer is protected from it.

For example, Akaki Medulashvili, a resident of the village of Sanavardo in Kvareli district, lost 95% of his crop due to hail, but he is a beneficiary of state agricultural insurance. 50% of the insurance policy was reimbursed by the state, and now the farmer will receive more than GEL51 thousand from the insurance company Aldagi in the form of compensation.

According to the agency, in July 2020, within the framework of the agricultural insurance program, 15,422 policies were issued throughout Georgia, and the insured area amounted to 15,000 hectares, which is 24% more than in the same period last year. The cost of the insured crop exceeds GEL140 million.

Both individuals and legal entities, who own a maximum of 5 hectares of agricultural land, can participate in the agricultural insurance program.