Is Cotton Insured?

Relying on the experience of agricultural insurance of PICC for many years, the Xinjiang Uygur Autonomous Region has explored the policy cotton insurance business road of "government support, insurance company operation and all parties involved".

Xinjiang has relatively little rainfall and abundant heat. It is the main cotton producing area in China. Cotton quality Relatively high.

However, a few days ago, some towns and townships in Jiashi County of Xinjiang were attacked by heavy rain and hail. The hail diameter was 1-2 centimeters. The county and summer Awati Township, kirilsu Township and Yu Dai crek Township were severely affected. Hail accumulated thickness of 10 centimeters, and the area of cotton affected area was 32225 mu.

Cotton insurance will once again play a role in the affected cotton growers.

Policy insurance reforce

A few days ago, Xinjiang Luntai county held the policy of 2011. Cotton insurance To implement the work coordination committee, Ran Jianmin, deputy county magistrate of Luntai County, said that the implementation of policy cotton agricultural insurance and the implementation of financial subsidies for cotton planting are both important measures to enhance the ability of agriculture to resist natural disasters and to solve the risk of agricultural production. It is also an important way to promote the upgrading of the agricultural industry, or to transform the government's support for agriculture and to maintain the realistic requirements of rural social stability and development. It is also an important measure to open up the rural insurance market, improve the rural financial services, and the majority of farmers spend money and protect Da'an.

In 2007, under the guidance of the state's policy oriented agricultural insurance, Xinjiang relied on the experience of agricultural insurance of Xinjiang branch of Peoples Insurance Company of China for many years, and explored the policy cotton insurance business road of "government support, insurance company operation and all parties involved".

The total cotton covered area (excluding production and Construction Corps) reached 10 million 680 thousand mu in that year. Cotton seeding Over 80% of the area. In Xinjiang, the promotion of cotton insurance has been carried out by means of four parts of government mobilization, financial support, department cooperation and company operation. Coupled with the active participation of farmers, farmers have been unwilling to grow in large areas, and insurance companies are unwilling to expand cotton insurance business. Local governments are unwilling to promote the development of cotton industry, and credit agencies are unwilling to provide loans. These problems have effectively promoted the development of Xinjiang's cotton industry and promoted the steady increase of cotton farmers.

Insurance companies pay in place

In 2010, a serious natural calamity occurred in Bazhou District of Xinjiang province in 50 years. The first part of the PICC Xinjiang Bayinguoleng Mongolia Autonomous Prefecture Branch went to the scene of the disaster to see the scene. At the same time, it launched the emergency plan for agricultural insurance disaster treatment, deployed more than 80 experienced business leaders, organized 20 inspection and damage teams, and promptly went deep into the field to carry out the investigation and verification work. After that, the company cash the 10 million yuan prepaid indemnity to the affected counties and cities, buy cotton seeds and plastic films for farmers, and actively help the affected farmers to fight against disasters and save themselves, and timely resume production. This is also a microcosm of the company's implementation of the "three rural" policy since 2007 and the implementation of the policy based agricultural insurance business in accordance with the law.

PICC clearly stipulates in the insurance clauses of cotton planting that during the period of insurance, because of rainstorm and flood (except for government storage flood), waterlogging, wind, hail and freezing disaster, and the loss rate is above 30% (inclusive), the insurer can be liable for compensation in accordance with the stipulations of the insurance contract, and at the same time, the standard of compensation for cotton growing according to different growing periods is also gradually improving. {page_break}

People in charge of financial insurance Luntai branch said that the amount of cotton planting insurance in 2011 is 600 yuan per mu, the insurance rate is 7%, and the premium is 42 yuan per mu. According to the relevant documents of the autonomous region finance department, the central finance and autonomous region finance will bear 40% and 25% premiums respectively.

In addition, in order to make up for the regional blanks of cotton insurance in Xinjiang, PICC has made a record of the cotton planting insurance which is only applicable to the Xinjiang regiment business in the CIRC last year. The development of this insurance program will bring greater protection to the interests of cotton farmers in Xinjiang.