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Future Generali settles Rs 276 crore worth PMFBY claims during lockdown
Wednesday, 27 May, 2020, 08 : 00 AM [IST]
Our Bureau, Mumbai
Future Generali India Insurance Company Limited (FGII), the general insurance arm of the joint venture between retail game-changers Future Group and global insurer Generali, has settled Rs 276 crore of Pradhan Mantri Fasal Bima Yojana (PMFBY) claims during the lockdown period.

The company has paid PMFBY claims in districts of Karnataka (Belagavi, Chamrajnagar, Bagalkote, Raichur, Ramnagar, Tumkur, Yadgir), Rajasthan (Ajmer, Kota, Sawai Madhopur, Jaipur, Pali, Pratapgargh) and Maharashtra (Ahmednagar, Buldana, Nanded, Satara, Yavatmal). The claim amount has benefitted 1,64,917 loanee farmers & 85,460 non-loanee farmers in 19 districts of these three states. Out of which, 38,928 female farmers received claims amounting to Rs 44.32 crore via Direct Beneficiary Transfer.

Anup Rau, MD & CEO, Future Generali India Insurance Company, said, “Shortage of labour force and breakdown in supply chains has left many farmers struggling to sell their crops. In these testing times, we at Future Generali India Insurance fast-tracked our settlement process which benefitted more than 2.5 lakh farmers so far.” 

PMFBY offers start to end insurance cover against losses of crops during the entire cycle from preparation of sowing to harvesting and post-harvest due to poor yield.

State/Season    Benefited Farmers    Paid Claim Amount ( Rs. Cr)           
Karnataka    79525    92.11           
Rajasthan    142255    159.62           
Maharashtra    28597    23.96           
Grand Total    250377    275.69        
State    Districts where the claim is paid       
Karnataka    Belagavi, Chamrajnagar, Bagalkote, Raichur, Ramnagar, Tumkur & Yadgir       
Rajasthan    Ajmer, Kota, Sawai Madhopur, Jaipur, Pali, Pratapgargh       
Maharashtra    Ahmednagar, Buldana, Nanded, Satara, Yavatmal    
Summary of PMFBY Claims Paid in Lockdown           
Total Claim Paid during Lockdown    275.69 crores           
Number of Benefited farmers    250377           
Loanee Farmer    164917           
Non loanee Farmer    85460           
Female Benefited Farmer Count    38928           
Male Benefited Farmer Count    211116           
Others Benefited Farmer Count    333  

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