Why the need for Specialized Webinar on Livestock Insurance?

In association with PHD Chamber of Commerce & Industry, New India assurance Co. Ltd, National Insurance Academy & Bhilwara Zila Dugdh Utpadak Sahkari Sangh Limited, (Saras Dairy) Alwar. A very successful Seminar was held on 3^rd Feb. 2020 in Lakshmipat Singhania Auditorium, PHD House, New Delhi.

A Knowledge paper prepared by National Insurance Academy on Livestock Insurance was released in this seminar.

Knowledge Paper Release during Seminar on “Livestock Insurance” at PHD Chamber, New Delhi

Over 300 participants owning Cattle, Poultry, Piggery, Bee Keeping, Insurance Brokerage Firm, Insurance Companies etc. had attended Seminar

In this follow up webinar Experts will be discussing the suggestions, which emerged in Knowledge Paper and discussions which were held in the Seminar in Feb. 2020. Latest update on the actions/ initiatives of the Government of India will also be discussed for the benefit of Farmers and all stake holders involved in Indian Insurance industry.

It is very important as in the last 7 months the country had a major economic  impact due to  Covid 19 Pandemic . It has affected the earnings of Crores of citizens but the good thing is that Dairy /milk production has not been affected.

The Background:

Under the leadership of Hon’ble Prime Minister Sh. Narendra Modi the initiative taken by the present Government is to double the farmer’s income in India by 2022. To achieve this multi-modal focus on all farming activities is proposed with special emphasis on Allied Agricultural activities such as veterinary etc.

As the growth of Crop/ Agriculture income has a limitation, therefore, thinking which has emerged is that farmers/ rural population should go in for more and more of:

• Dairy Farming
• Poultry Farming
• Fishery
• Rearing of Goat/ Sheep
• Bee Farming
• Silk Worm Production

In 2019, a separate Department of Animal Husbandry & Dairying was created in the Ministry of Fisheries, Animal Husbandry, and Dairying.

We intend to have this important seminar to discuss the importance of livestock Insurance which is a must for supporting our farmers/ families having livestock as a means for livelihood.

 Target audience will comprise of:

• Officials of Ministry of Animal Husbandry (Govt. of India)
• Officials of Ministry of Animal Husbandry (State Govt.)
• Officials& Scientists of National Dairy Research Institute, Karnal
• Banks/ NBFC/ Micro Finance Institutions providing  livestock  loans
• Insurance companies issuing Livestock (cattle ) Insurance policies
• Insurance Broking Firms selling livestock (cattle ) Insurance policies
• Senior Management & Officials from Milk Producer Co-operative Societies Like: Amul, Saras, Vila, Vijaya etc.
• Service Providers engaged in Tagging of animals
• Surveyors
• Technology Companies working towards taking Livestock Insurance to the next level, when India emerges as 5 Trillion US $ economy.

Points to be covered in the Webinar are:

• Livestock Risk – Should Insurance be made mandatory?
• Use of technology for claim settlement
• Investment & improvement of Veterinary infrastructure is needed in a big way to support the farmers
• What innovations are  needed in Insurance
• What can we learn from other countries?

Why farmers need Livestock Insurance?

Importance of Livestock Insurance is increasing as more and more loans are being provided by Banks/ NBFC/ Micro Finance Companies for increasing the income of farmers, marginal farmers in all parts of the country. Insurance of Live Stock for the market value paid by the farmer is important to protect his family in the eventuality of the death of an animal.

Who should attend the Webinar (Target Participants)?

This is a good opportunity for management/ officials:

• Corporates & Co-operative Societies engaged in Dairy Farming, Milk Collection & Milk Processing
• Honey & Silk Producers
• Banks/ NBFC’S & Micro Finance Companies lending to Farmers
• Insurance Companies
• Reinsurance Companies
• Insurance Brokerage Firms
• Policy Makers  at National and State level
• Associations Representing Various Segments Connected with this growth of Animal Husbandry/ Food Processing/ upliftment of society
• NGO’s working in the rural area promoting the growth of animal wealth of our farmers/ employment generation of those who are below BPL.

 What you can expect from the Webinar?

Realize the difficulties being faced by Farmer’s possible solutions/ understand the Government thought process and growth potential of this great sector.

Some key take away for various stake holders will be:

• Understanding of the Needs of Farmers which will result in the growth of dairy farming, fisheries, poultry farming, bee farming & silkworm production
• Important Issues in Livestock Insurance
• Availability of credit supported with Insurance can result in growth of this industry
• Role of Technology in the monitoring of Claims

Delegate Fee:

• Individual Participation fee: Rs. 600
• Individual Foreign Participant fee: US $ 20