- It is an insurance policy in which a satellite index will be used to provide localized coverage at the farm level.
- Based on the satellite data, the insurance policy will provide full coverage for the entire crop cycle, i.e. from sowing to harvesting.
- The insurance policy will cover:
- Food crops
- Oilseeds
- Commercial crops
- Horticultural crops
- The threshold value of the yield will be calculated using the historical satellite image data and the insured crop will be compared to it to determine if the yield is lost.
- HDFC ERGO is a joint venture between HDFC Ltd. (51%) and ERGO International AG (49%) that was established in 2002 with its headquarters in Mumbai. The current CEO of the company is Ritesh Kumar.
Question:
Q.1 The first satellite index-based Farm Yield Insurance Policy was recently launched by?a. Bajaj Allianz
b. HDFC ERGO
c. Bharati AXA
d. ICICI Lombard
