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Chennai: ICICI Lombard General Insurance has
announced a weather insurance policy covering major crops in
Tamil Nadu. The insurance cover is being launched initially
Coimbatore and Salem, according to a press release here.
Quoting Smita Aggarwal, Head, Rural and Agriculture Business,
ICICI Lombard General Insurance, the release said the weather
insurance cover is being introduced for a range of crops such
as cotton, grapes, coriander and orange. ICICI Lombard has
customised the insurance products after detailed analysis of
decades of crop cycles and weather patterns. The weather data
will be collected regularly during the policy period and
verified by a professional agency.
The company will compute the claim and dispatch the amount to
farmers in the event of a deviation from the standard
reference weather stations data from weather stations
operated by the Meteorological Department or other agencies,
according to the release.
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