Thailand: Government expands rice insurance scheme
Source: Asia Insurance Review | Apr 2019
The Thai cabinet has approved a rice insurance scheme for the 2019 season worth THB1.74bn ($55m), aiming to cover 30m rai (4.8m hectares) of farmland.
The scheme, operated by the Bank for Agriculture and Agricultural Cooperatives (BAAC), covers six types of natural disaster: Floods, drought, storms, cold, hail and fires, reported The Bangkok Post.
A spokesman for the deputy prime minister who oversees economic affairs Nathporn Chatusripitak, said the scheme is scheduled to start on 1 April, charging an insurance premium of THB85 per rai, with the government subsidising THB51 and farmers paying THB34. A