Agricultural insurance guarantees farmers' interests in Bama

Bama Yao autonomous county of Hechi, Guangxi has taken multiple measures to promote policy-based agricultural insurance for impoverished households operating forestry, plantation, and breeding business, reducing risks for the development of those industries for farmers.

The agricultural insurance has provided bottom-line guarantees for the stable increase of income of impoverished people, and effectively addresses the risks of being damaged by a disaster.

In 2019, the county launched 15 policy-based agricultural insurance types with a total of 16.78 million yuan ($2.38 million) in premiums, covering rice, corn, sows, commercial forests, citrus, camellia trees, and beef cattle insurance, which further enhances the risk of agricultural production ability.

In order to promote hog production, from Oct 31, 2019, the county increased the amount of insurance for a sow to 1,500 yuan and the amount of a fattening pig to 1,200 yuan. It is reported that 9,566 breeding sows have been insured throughout the year, with a premium subsidy of 692,300 yuan, while 45,169 fattening pigs have been insured with a subsidy of 1.36 million yuan.

In 2019, Bama has received a total of 15.17 million yuan in premium subsidies for policy-based agricultural insurance from higher authorities, and a total of 11.22 million yuan has been settled.