Azerbaijan, Türkiye expanding agricultural insurance cooperation PHOTO

The expansion of agricultural insurance cooperation has been discussed during the visit of the delegation of the Turkish Agricultural Insurance Pool Management Company (TARSIM) to Azerbaijan.

According to the Azerbaijani Ministry of Agriculture, the visit of the delegation led by Chairman of TARSIM Board Osman Yildiz will last until October 5, Trend reports.

During the visit, the delegation will hold meetings at the Azerbaijani Ministry of Agriculture, the Agricultural Insurance Fund, the Central Bank, as well as with insurance companies and other institutions.

The issues of expanding cooperation between TARSIM and the Agricultural Insurance Fund, the role of agricultural insurance in the development of the Azerbaijani territories liberated from occupation, as well as the introduction of Azerbaijan’s experience in applying the agricultural insurance mechanism in other countries, will be discussed.

Earlier, during a meeting of the delegation with the leadership of the Agricultural Insurance Fund, fund representative Fuad Sadigov emphasised that preliminary discussions and calculations were underway regarding the addition of new areas to agricultural insurance, including drought risks.

Moreover, Sadigov noted that the number of insurance cases in 2023 increased sharply and the amount of insurance payments will increase accordingly.

In turn, Chairman of TARSIM Board of Directors Osman Yildiz said that the issue of creating a common agricultural insurance system among the Turkic states is being discussed.

Moreover, the establishment of an Insurance Information Centre in Azerbaijan, as well as support for the certification process of insurance experts, will be discussed during the visit, Deputy Chairman of TARSIM Board of Directors Fatma Ebru said.

In this regard, the TARSIM delegation is expected to visit the Central Bank of Azerbaijan.

The Agricultural Insurance Fund made insurance payments in the amount of 2.4 million manats ($1.4 million) in 2022.