The insurance market of agricultural products in Ukraine is still in its infancy, and agricultural insurance culture among Ukrainian farmers has not emerged. Agricultural companies and insurance companies almost lost interest in agricultural insurance through the abolition of the system of state support, which operated in 2007-2009, current legislative changes designed to create a strong and effective insurance support for farmers. Will it work at full strength or will be ruined, as happened with many initiatives of our politicians, to be seen.

Ukraine was closer to modern agricultural insurance. It was contributed by the adoption of the law «On the peculiarities of agricultural products insurance with state support», which came into force on July 1, 2012. According to it, the government began a program of financial support, which provides 50% compensation insurance premium for insurance of agricultural products in the event of their death due to the onset of certain insurance risks.

In addition, under the new laws and amendments to the law «On insurance», agricultural products identified in a separate type of voluntary insurance (previously it was considered voluntary property insurance). As of October 26, FSR issued four licenses for agricultural insurance. They were Ukrainian Agrarian insurance company, insurance companies «Brokbusiness», «Insurance Guarantees» and «Dominant».

Read more information in the magazine «Milk and Farm» № 6 (13), December 2012