India Region

HDFC ERGO to Provide Crop Insurance to Madhya Pradesh Farmers

11 July 2024, Bhopal: HDFC ERGO has launched a campaign for the Kharif 2024 season under the Pradhan Mantri Fasal Bima Yojana (PMFBY) implemented by the Government of Madhya Pradesh and the Government of India. Through this scheme, farmers can insure their crops from damage caused by natural disasters and get financial help.

HDFC ERGO has been allotted Alirajpur, Barwani, Burhanpur, Dhar, Khandwa (East Nimar), Jhabua, and Khargone (West Nimar) districts in Madhya Pradesh under this scheme. The last date for getting insurance for farmers has been kept as 31st July 2024 for loanee and non-loanee farmers.

The Premium payable by farmers for Kharif crops is 2% and for commercial crops is 5%. Further, farmers can report any disaster within 72 hours on toll-free number 14447 or within 7 days by visiting the nearest CSC center and giving information in writing and contacting the mobile app “Crop Insurance/Farmer App”.

Compensation under the scheme is provided when there is damage to standing crop from sowing to harvesting based on the calculation of the difference between actual yield or marginal yield that is valid for a maximum period of 2 weeks from the date of harvesting due to hailstorm/cyclonic storm/cyclonic rains/unseasonal rains). Compensation is also provided based on local calamities on an individual basis for hailstorms/waterlogging/landslides/cloud bursts/lightning. Notified crops as directed by the State Government are covered under the scheme.

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