Decline in crop insurance, strictness of subsidies in agricultural countries or neglect of real farmers?

english.insurancekhabar.com · 3 days ago

Crop insurance policies in Nepal have seen an alarming decline, with an 80% drop in the fiscal year 2081, while livestock insurance remains stable. This decline is attributed to tightened government subsidies, past exploitation of state funds, and technical complexities. New rules requiring on-site inspections and mandatory documentation have discouraged fraud but also discouraged genuine farmers due to a cumbersome claim payment process. The article suggests using digital technology for damage assessment to simplify and improve transparency in crop insurance.