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Insurance of bee, Ostrich and Mushroom Cultivation to Start

  1 min 35 sec to read

April 6: Nepali farmers can now insure their bees, ostriches and mushroom cultivation. Insurance board (IB) recently made public such types of insurance schemes under agricultural insurance. “Demand of such insurance policies in insurance companies has prompted us to introduce bee, mushroom and ostrich insurance schemes,” says Kundan Sapkota, Deputy Director of IB. 

Farmers can purchase these policies institutionally or personally. Insurers will get discount up to 75 percent in insurance premium while purchasing these schemes. Farmers are required to pay five percent insurance premium of total insured amount on purchase of bee and mushroom cultivation insurance scheme. Whereas, they need to pay 2 percent premium of total insured amount on ostrich insurance scheme, according to IB. 

IB informed that under bee farming insurance policy, insurance company will compensate up to 90 percent of actual loss occurred under the insurance amount if bees/hives take any damages during the insurance period. Farmers can transfer risks of damages in bees/hives occurred during transportation, diseases or other natural causes, eradication of bee farming due to poisonous habitat to the insurance companies. 

Similarly, insurance companies will compensate the total amount of investments under mushroom cultivation insurance scheme if any damages occur during the period of insurance. As per the IB, insurance amount will be calculated on the basis of actual cost of production materials (straw, plastic bag, sees, wood, ropes, labor charge, pharlamin etc), actual price of machineries (straw cutting machine, sprayer pump, straw vaporising drums etc), and shelter and management expenses (bamboo, straw, plastic, ropes, nets, wages, wires etc).

Likewise, insured will receive compensation in case of death of the ostriches or if any damages occurs during the period of insurance. Apart from the included risks, all schemes cover risks of external factors such as fires, lighting, earthquake, flood, drought, landslides, storms, hail, snow, frost and other accidents.

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