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