Rural Reform

Insurance in Agriculture
Date:2017-08-17    Source:Shanghai Municipal Agricultural Commission

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In 2016, the agricultural insurance in Shanghai (for planting and breeding, including farm machinery, fishing boats and greenhouse facilities) received premium income of 587 million yuan, an increase of 19.22 % over the previous year, including 365 million yuan in planting sector, an increase of 9.58 % over the previous year, 206 million yuan in breeding sector, an increase of 42.4% over the previous year; the total insurance indemnity in the whole year was 291 million yuan, with a simple loss ratio of 49.6%. In 2016, the insurance coverage for the six main categories with allowance from central finance, namely rice, wheat, oilseed rape, pig, sow for normal propagation and dairy cow, was close to 100% in Shanghai. The pilot work for cost price insurance on green leafy vegetables in the off season and open field meteorological index insurance was further improved. According to statistics, in 2016, price insurance on green leafy vegetables in the off season was placed for 204,800 mu-times, with premium income of 28.3379 million yuan. This included 78,700 mu-times as cost price insurance on green vegetables in the “winter off season”, with premium income of 14.1779 million yuan, insurance indemnity of 34.85 million yuan, and a simple loss ratio of 245.8%; and 127,000 mu-times as cost price insurance on green leafy vegetables in the “summer off season”, with premium income of 14.16 million yuan, insurance indemnity of 9.35 million yuan, and a simple loss ratio of 66%; In 2016, the area covered by open field meteorological index insurance was 24,000 mu-times, with premium income of 2.88 million yuan, insurance indemnity of 2.62 million yuan, and a simple loss ratio of 91%.

 

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