Insurance covers lost crops
By Li Jianzhong and Huo Wei |
August 29, 2009, Saturday
|
Print Edition
Print Edition
Typhoon Morakot wrought havoc and great losses on vegetable farms in Minhang District but it also alerted farmers to the benefits of taking insurance over their crops in cases of such natural disaster.
"My seedlings were growing very well last month and I was so happy," said Tian Jianguo, a grower in Pujiang Town. "The seeds I planted this year were the most expensive, but now they're all gone with the typhoon."
The Fengnan Vegetable Base in the town is much luckier than individual grower Tian. The typhoon destroyed almost everything at the base. But as every farmer bought insurance last year, the losses were minimized.
The day after Morakot hit, Anxin Insurance Co Ltd, the only company in Shanghai handling agricultural insurance, paid out a total of 2.6 million yuan (US$382,353) compensation in advance of assessing and auditing the full extent of damage to the district's vegetable planting bases.
"The typhoon has caused great loss to them and the bases are most in need of funds at this moment," said the company's General Manager Li Xiaohua. "We pay the compensation in advance, hoping to help them overcome the crisis."
Many farmers in planting bases and agricultural associations are aware of the need to buy insurance. "It did save us," said farmer Ma Yuanmei.
Many farmers like Ma didn't want to buy insurance at first. "We all thought it was a waste of money. But now it seems so important," she said.
The local agricultural committee set up a special team and the local government granted subsidies to farmers who bought the insurance.
"My seedlings were growing very well last month and I was so happy," said Tian Jianguo, a grower in Pujiang Town. "The seeds I planted this year were the most expensive, but now they're all gone with the typhoon."
The Fengnan Vegetable Base in the town is much luckier than individual grower Tian. The typhoon destroyed almost everything at the base. But as every farmer bought insurance last year, the losses were minimized.
The day after Morakot hit, Anxin Insurance Co Ltd, the only company in Shanghai handling agricultural insurance, paid out a total of 2.6 million yuan (US$382,353) compensation in advance of assessing and auditing the full extent of damage to the district's vegetable planting bases.
"The typhoon has caused great loss to them and the bases are most in need of funds at this moment," said the company's General Manager Li Xiaohua. "We pay the compensation in advance, hoping to help them overcome the crisis."
Many farmers in planting bases and agricultural associations are aware of the need to buy insurance. "It did save us," said farmer Ma Yuanmei.
Many farmers like Ma didn't want to buy insurance at first. "We all thought it was a waste of money. But now it seems so important," she said.
The local agricultural committee set up a special team and the local government granted subsidies to farmers who bought the insurance.
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