12:29 - 23.01.2024

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January 23, Fineko/abc.az. The Board of the Agricultural Insurance Fund has decided to cut tariffs for insurance of farm animals.

ABC.AZ reports that according to the decision, the tariffs for animal insurance for 1 year on the basic secured and extended secured insurance packages are set at 5.17% and 8.19%, respectively.

So far these tariffs have been 6.1% and 9.5%, respectively. The cut tariffs will allow farmers and farms to insure animals on more favorable terms.

So far, the basic package and 1-year cattle insurance worth 1,000 manats have cost 30.5-47.5 manats.

After making changes, insurance on these terms will cost farmers 26-41 manats.

If the basic package and a 1-year insurance premium for a small horned animal (for example, a sheep or a goat) worth 300 manats so far amounted to 9-14 manats, then after the change these figures have further decreased to 7.8-12.3 manats.