Coimbatore, Nov 10: IFFCO-TOKIO General Insurance Co Ltd (ITGI) on Wednesday, Nov 5 launched weather insurance product- Mausam Bima Yojna in Coimbatore for farmers. The policy provides cover for anticipated deficiency in crop yield due to excess rainfall during the specified cover period. This product will be available for crops like Paddy, Sugarcane, Groundnut and other crops cultivated in Coimbatore.
Similar product will be made available in Salem, Madurai, Cuddalore and Vellore districts during this month, said K. Venkatesan, Business Head of IFFCO TOKIO.
IFFCO TOKIO had earlier introduced its first Weather Insurance Product- "Barish Bima Yojna" (BBY) for Kharif crops in four States in April 2004.
Since then IFFCO TOKIO was successful in spreading the distribution of its weather products to more than 200 districts insuring 2.11 lakh farmers and also paid claims to 36,300 farmers till date.