This Year, The Insured Area Of Cotton Agricultural Insurance In Xinjiang Has Exceeded 30 Million Mu

The reporter learned from Xinjiang banking and Insurance Regulatory Bureau on May 19 that with the cotton planting in Xinjiang from south to north, by the end of April, the insured area of cotton agricultural insurance had reached 30856400 mu (including BINGTUAN).

Agricultural insurance provides a protective umbrella for cotton production and improves the ability and confidence of the insured cotton farmers to resist disasters and save themselves. According to the data of Xinjiang banking and Insurance Regulatory Bureau, from 2007 to 2020, the cumulative compensation expenditure of cotton agricultural insurance was 18.164 billion yuan, with an average annual growth rate of 23.95%.

Liu Wentan, a major cotton grower in Niuchang village, bixibage Township, Kuqa City, is the beneficiary of agricultural insurance. At the end of March this year, a hailstorm destroyed 290 mu of cotton he had just sown, and all of them had to be replanted“ At present, the Xinjiang branch of the people's property insurance company of China has completed the loss assessment, and the compensation for each mu of land is 300 yuan. The compensation has been paid to the account, which can basically cover the cost of replay. " He said.

This year, cotton insurance continued to implement premium subsidy policy. In 2007, the central government put cotton into the pilot premium subsidy varieties, and the financial subsidies were given every year, which effectively reduced the burden of farmers' payment and improved the enthusiasm of farmers to participate in the insurance“ This year, I only need to pay 21.35 yuan for the premium of 61 yuan per mu of land after the central and autonomous region's financial subsidies, which effectively reduces my premium burden. " Liu Wentan said.

Like Liu Wentan, Ning Chengbao, a major cotton grower in Dongtan village, Shilidian Town, Hutubi County, is also an active buyer of agricultural insurance. Now he has purchased agricultural insurance for 20 consecutive years. After planting cotton every year, the first thing he and his fellow farmers have to do is to buy agricultural insurance.

Driven by risk compensation and premium subsidy, the insured area of cotton in Xinjiang has expanded year by year since 2007, and the insured area will exceed 37 million mu in 2020, more than double that in 2007. The insurance rate of cotton continued to increase, more than 90% last year, becoming the highest crop in Xinjiang.