Climate Crisis Hits Insurance Plan for Crops
 Narayan Amre, a soyabean grower in Maharashtra’s Palghar, knew he was ruined when devastating rains in August washed away the entire crop on his four-hectare farm. “It’s a 100% loss,” he says.
 Some of Amre’s losses will be covered by crop insurance, but it’s unclear when compensation will be paid and how much losses, in value terms, will be accepted by the insurance surveyors, he adds.
 Delayed payouts have dogged the Pradhan Mantri Fasal Bima Yojana (PMFBY), the country’s flagship farm insurance scheme, since its roll-out in the summer of 2016. Now, there’s a new risk to be hedged, insurance companies say — climate crisis-induced extreme weather events.
 Untimely rains and sudden drought have upended the farm insurance business, as loss-making insurers brace for an avalanche of claims this year from 12 states that witnessed widespread summer flooding. Maharashtra is by far the worst hit, data show.
(Source: Hindustan Times)
Also Read : UN Climate Talks Stagger Towards ‘Mediocre’ Outcome
(The Quint is now available on Telegram. For handpicked stories every day, subscribe to us on Telegram)