IFFCO-TOKIO's Barish Bima policy gaining popularity in K'taka

Bangalore, July 18 (UNI) The Barish Bima Yojana (BBY), an insurance policy launched by IFFCO-TOKIO General Insurance Co covering losses suffered by farmers due to deficit rainfall, is gaining popularity in Karnataka, with over 5,200 farmers benefitting by it.

BBY was bought by farmers in seven districts -- Gadag, Dharwad, Kolar, Chitradurga, Tumkur, Bijapur and Bellary. Based on the success and experience in the last one year, the company had extended its reach by increasing the number of weather stations covered from nine to 29 in five districts, a company release here said today.

The policy covered shortfall of rainfall based on the variation between the total weighted actual rainfall and total weighted normal rainfall during specified months between July and October. The specified reference was obtained from weather stations recognised by the Indian Meteorological Department. However, this policy was neither linked to drought by any official agency, nor the actual yield of crops was measured. The insurable event was only deficiency of rainfall, the release added.

Commenting on the success of the policy, company Managing Director and CEO Ajit Narain said ''the policy aims to serve the farmers with better products and services to ensure that they are protected from risks of deficiency in rainfall during the whole crop season.'' UNI RS GD SKB2039