Agriculture Insurance Co of India

Agriculture Insurance Co of India is one of the largest companies of agri-insurance which set up to give out the insurance plans over the agriculture and the allied activities. It provides the insurance to the millions of the farmers of the country. It is also called AIC. On 20th December 2002 under the Indian Companies Act 1956 AIC was incorporated with the paid up capital of the INR two billion and the authorized share capital of the INR 15 billion. AIC has started the business from April 1st 2003. AIC provides weather based and area based the crop insurance plans in almost 500 districts of the country.

Agriculture insurance Co of India is controlled directly by Ministry of Finance, Govt. of India. It is promoted by the National Bank of Agriculture and Rural Development, National Insurance Company Limited, The New India Assurance Company Limited, Oriental Insurance Company Limited, United India Insurance Company Limited and General Insurance Corporation of India.

Agriculture Insurance Co of India provides some life insurance plans which are divided into past plans, present plans and future plans. Some of them are:

AIC Past Plans

• Sookha Suraksha Kavach
• Farm Income Insurance Scheme (FIIS)
• Pilot Crop Insurance Scheme (PCIS)
• Experimental Crop Insurance Scheme (ECIS)
• Pilot Scheme on Seed Crop Insurance Scheme (PSSCI)
• Comprehensive Crop Insurance Scheme (CCIS)

AIC Present Plans

• Rabi Weather Insurance
• Wheat Insurance
• Pulpwood Tree Insurance
• Mango Insurance
• Varsha Bima/Rainfall Insurance
• National Crop Insurance Scheme (NAIS)
• Bio-Fuel Tree/Plant Insurance
• Weather Based Crop Insurance Scheme (WBCIS)
• Uttarakhand Seb Bima Yojana (USBY)
• Rainfall Insurance Scheme for Coffee Growers (RISC)

AIC Future Plans

• Sugarcane Insurance
• Tea Insurance
• Basmati Rice Insurance
• Aromatic & Medicinal plants Insurance
• Contract Farming Insurance

AIC business is the result of a required nature of the crop insurance at agriculture loan time directed by Govt of India. This chain shows that mediators are involved in the claim settlement and underwriting.

Farmer -> Primary Agricultural Credit Society (PACS) -> Bank Branch -> Nodal Bank -> AIC

For more information on the plans you can contact at

Agriculture Insurance Company of India Limited
13th Floor, "AMBA DEEP",
Kasturba Gandhi Marg,
Connaught Place,
New Delhi - 110 001,
India
Phone No: 011 - 46869800
Fax No: 011 – 46869815