Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan passes draft law on agricultural risk insuranceThe Legislative Chamber of Uzbekistan’s Oliy Majlis has approved in the first reading the draft law "On Agricultural Risk Insurance."

The document allows for insurance coverage for agricultural producers against risks threatening their products, including natural disasters, fires, plant diseases, pests, livestock deaths due to poisoning or infections, and damage caused by wild animals.

To ensure payouts, a National Agricultural Insurance Fund will be created, financed through various revenue sources. The draft law outlines the list of risks to be insured, the process for subsidizing insurance premiums, reinsurance mechanisms, and compensation payments.

The law also calls for the digitalization of agricultural insurance and the strengthening of state coordination in this area. It clearly defines the rights and responsibilities of all participants in agricultural risk insurance.

During discussions, it was noted that the adoption of this law would establish a legal foundation for compensating farmers’ losses, regulate the legal aspects of insurance, and improve conditions for the development of the country’s agricultural sector.