The state will increase support for agricultural producers through agricultural insurance

The Ministry of Economy of Ukraine held a meeting of the working group on the development of state support for insurance of agricultural products, which discussed the introduction of agricultural insurance as a new form of state support for agricultural producers, primarily those working in front-line areas and facing increased production risks due to the war.

The procedure for providing state support for agricultural insurance provides for clear requirements for recipients of assistance. It introduces mandatory registration of agricultural producers in the State Agrarian Register (DAR), verification of absence from sanctions and terrorist lists, and a ban on any ties with residents of the Russian Federation, Belarus, and other risky jurisdictions.

The program provides that the state will compensate producers for part of the insurance premiums paid:

• up to 60% – for agricultural producers working in frontline communities;
• up to 45% – for other agricultural producers.

To use the program, an agricultural producer must conclude an agreement with an insurance company that has received the relevant right in agreement with the National Bank of Ukraine (currently, these are JSC "Insurance Company "INGO", PJSC "Insurance Company "Universalna", IC "VUSO"), pay an insurance premium and submit an application for compensation in the established form. The list of authorized insurers is planned to be expanded in the future.

Contracts will be concluded in accordance with standardized insurance products for winter grain crops (wheat, rye, barley) for the overwintering period, for the entire growing period, or for the spring-summer period.