Rainfall Index Insurance

In India, farming communities suffer high losses year after year due to weather vagaries. Lack of irrigation facilities and non-availability of modern farming techniques, further compound this problem. This impairs access to rural credit as well. Farmers find they are unable and to some extent unwilling to pay interest on their crop loans in a drought year and seek to reschedule principal repayments. Weather risk also affects the input providers by increasing the volatility in their business volumes and consequently affecting the profits of the business.

HDFC ERGO offers a comprehensive Rainfall Index Insurance Policy which is a mechanism for providing effective risk management aid to those individuals and institutions likely to be impacted by adverse rainfall incidence at an affordable cost.

This Policy is available to farming communities having farm incomes from cultivable area and who may get adversely affected on account of a Rainfall Deficit. They should be Members (in groups) of Micro Finance Institutions, Non Government Organisations, Government Sponsored Organisations and such affinity groups / institutions in rural and social sector.