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Circular No. 121/2011/TT-BTC: Premium-free agricultural insurance for poor farmers

Under Finance Ministry Circular No. 121/2011/TT-BTC of August 30, guiding a number of articles of Prime Minister Decision No. 315/QD-TTg of March 1, 2011, on pilot provision of agricultural insurance during 2011-2013, the State will support 100 per cent of insurance premiums for poor farmer households and farmers that are eligible for pilot agricultural insurance; 80 per cent for those living just above the poverty line; 60 per cent for well-off farmers and households; and 20 per cent for agricultural production organizations.

From October 1, Vietnamese insurance businesses and the Vietnam National Reinsurance Corporation will provide on the pilot basis not-for-profit agricultural insurance for farmers.

The Ministry of Finance will give written approval or disapproval of the pilot insurance services to be provided by insurance businesses within 30 days after receiving complete and valid dossiers for registration of pilot agricultural insurance.-

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