Karnataka to re-introduce livestock insurance in South Kanara

The Karnataka state government has announced to re-introduce the livestock insurance scheme in South Kanara (also Dakshina Kannada) after a break of almost one year. The government will reintroduce the scheme in 17 districts including the coastal district.

Under the scheme, farmers of the region will get benefit of the total reimbursement of the price of milking cows or buffalos in the event of their death due to diseases, flood and other perils. The market value of the insured cattle will be evaluated by a three-member committee. And, the amount will be transferred to the account of the farmers. Farmers can also avail the help of the department officials in getting the insurance amount. 

The farmers interested to cover their cattle will need to pay only 50 percent of the premium amount, while the rest will be borne by the state government. The scheme was first introduced in year 2011 in association with United India Insurance Company to protect farmers’ interest in case of any eventuality. The scheme liked by the farmers and about 5, 850 farmers got registered their cattle. But due to some technical reason, scheme was stopped.

“The livestock insurance scheme is offered only to cows and buffalos, which give at least 1,500 litres of milk in a milking phase. The total premium for three-year insurance scheme is Rs 2,795 and farmers need to pay Rs 1,551 only”, said Sri K V Halagappa, Deputy Director of the department of veterinary science and animal husbandry.

Source: www.Insuringindia.com