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Is that High Claims Plug Widening of Livestock Insurance Scheme?-A Case Study of Haryana


Shyam Prakash Singh, B.S. Chandel, and Aniketa Horo



Indian Journal of Economics and Development
Year : 2016, Volume : 12, Issue : 1a
First page : ( 525) Last page : ( 530)
Print ISSN : 2277-5412. Online ISSN : 2322-0430.
Article DOI : 10.5958/2322-0430.2016.00117.7

Is that High Claims Plug Widening of Livestock Insurance Scheme?-A Case Study of Haryana

Singh Shyam Prakash*, Chandel B.S., Horo Aniketa
National Dairy Research Institute, Karnal-132001, Haryana

*Corresponding author’s email:

JEL Codes D81, G22, Q12

Online published on 26 April, 2016.

To cover the risk of animal death, Government of India (GOI) introduced the livestock insurance scheme during the years 2005–06. Under the scheme, crossbreed and high yielding cattle and buffaloes were insured at maximum of their current market price. The average rate of premium collected was 2.4 per cent of value of the animal. Government provided subsidy to the extent of 75 per cent in amount of premium to the farmers. Yet only 2.5 per cent of the milch animals in Haryana state were insured in 2012–13. The paper analyzed the aspect whether the livestock insurance was loss making proposition to the insurance companies or to the farmers or both. The study observed that the overall claim amount to premium collected ratio was 0.48 which left substantial amount of the premium with the company after meeting the operational expenses and there seems to be no reason for lacking its widespread success and implementation.

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