Pragmatic Crop Insurance Product for Shrimp Aquaculture to become reality

The need of the hour for shrimp farming would create a win-win situation for both insurance companies and farmers

The ICAR-Central Institute of Brackishwater Aquaculture, Chennai, Tamil Nadu recently organized a “Consultation Meeting on developing a Pragmatic Crop Insurance Product for Shrimp Aquaculture” at Chennai on February 12, 2021.

In his address, Dr KK Vijayan, Director, ICAR-CIBA, Chennai apprised the participants about the genesis and growth of the shrimp sector in the country and the bloom-bust-sustainable phases the sector has witnessed. He stressed on Institutional Insurance as the need of the hour for shrimp farming that would create a win-win situation for both insurance companies and farmers.

CA Srinivasan, Vice-President, Allianz Insurance Company emphasized that on the basis of the outcome of the discussions on the insurance policy proposals, a Pragmatic Insurance Policy could be worked out and subsequently, the premium and other aspects would be discussed.

The officials from the leading Insurance companies, farmers, farmer representatives, scientists and other stakeholders participated in the deliberations.