Shabda Gyawali's Blog

Non life insurance companies will offer insurance products for paddy, vegetables,potato,poultry, fruits and livestock  "  Crops insurance will cover production cost involved in farming of all crops and horticulture until the time they are ready for harvest. This includes cost involved in purchase of seedlings and fertilizers, and labor charge, among others. However, insurance coverage will not be provided in case plantations are done on less than eight aanas (2,738 sq ft) of land in hilly region and one kattha (3,645 sq ft) of land in the Terai" " On the other hand, livestock and poultry insurance will provide coverage to all types of cows, oxen, buffalos, yak, female yak, sheep, goat, swine, chicken and ducks based on sum insured fixed by the Insurance Board. For instance, maximum sum insured for high-breed dairy cow and buffalo are Rs 150,000 and Rs 125,000, respectively. This means those who have purchased cow and buffalo insurance policies cannot claim for more ...

Source: Myrepublica  "The government has prepared a draft of the new Agriculture Enterprises Promotion Act that among other, envisages to pave the way for contract or lease farming and promises incentives to insurance companies to sell farm insurance policies. The draft prepared by the Ministry of Agriculture Development (MoAD) in association with the Agro Enterprise Center (AEC) of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) will soon be circulated among local stakeholders in the different development regions for feedback, said a senior government official. Keeping in view the large swaths of land being left fallow by landlords, the government came up with the legal provisions to make sure that proper use of cultivable land through contract and leasing system is introduced in the country. “Though we have large tracks of land abandoned without farming across the country by landlords, we are still dependent on imports...

Recently read a news about how .... " 1,300 chickens and 200 ducks at Manohara Landless Squatters´ Settlement have been destroyed on the suspicion of bird flu.".... These birds were destroyed as per the government decision............ Kudos to rarely experienced proactive effort of the Government of Nepal to tame this dangerous endemic .........In my impact investing mode ,r eading this article few questions and thought came crossed my mind.. 1,300 chickens and 200 ducks had a lot of financial value. What are the implication of destroying the 1500 birds ? These birds might have been the financial asset of many low income people ... Did the Government announced any compensation package to those who suffered the financial loss ? Nepal Insurance Board need to put there act together and promote micro insurance among the low income people. M icro insurance coverage for livestock ( is chicken considered livestoc k) can help low income people to hedge there ri...

Lloyds’ Insurance in Developing Countries Report e stimates the number of people who are underserved by insurance to be between 1.5 - 3 billion people ........... . source:Leapfrog In context of Nepal : The Insurance Board of Nepal has called upon all insurance companies in the country to expedite the process of issuing microinsurance policies so that low-income groups could cover life, health and sources of livelihood such as cattle or shops. Click here to read more Good Market Opportunity ??