It has insured 316 farmers of Tahirpur area in Sunamganj under Index-Based Crop Insurance recently as a pilot basis
Green Delta Insurance Company is providing index-based crop insurance to the farmers in flood-prone haor area to mitigate the risks arising from excessive rainfall and flash flood.
It has insured 316 farmers of Tahirpur area in Sunamganj district under index-based crop insurance recently as a pilot basis to stand by the farmers who are at risk of financial loss in the haor area.
OXFAM Bangladesh and Sancred Welfare Foundation (SWF) are the partners in the initiative starting from April 28 and will continue till May 22.
Under this insurance, the farmers can get the insurance claim depending on the extent of excess rainfall and the height and stability of the floodwater caused by flood.
In the case of flood, the water level of the river is above 6.8 meters and in case of excess rainfall if it rains 125 millimeters in three consecutive days.
In those cases, the insured farmers will receive a maximum Tk 12,000 depending on total loss and duration of the flood.
Farmers who are living in extreme misery due to the epidemic caused by the Covid-19 infection will face more financial difficulties if the floods destroy their crops.
In August last year, the insurance company, with the support of Oxfam and SKS Foundation, provided index-based crop insurance to 650 farmers in Fulchhari and Saghata areas of Gaibandha.