Tuesday, June 15 2010 11:02

NKR Government is interested in insuring against agricultural risks


ArmInfo. Agricultural risk insurance is a priority task of the Government of Nagorno-Karabakh republic and we are searching for efficient ways to regulate the risks of farmers and villagers, NKR Finance Minister Spartak Tevossyan said during a meeting with representatives of Armenian insurance company in Stepanakert June 12.

He suggested that insurers should develop a relevant product and the Government is ready to finance it.

Representative of INGO Armenia Samvel Margaryan said that Russian INGO Group, the institutional investor of his company, has a successful experience of insuring against such risks. This acitivity has strategic rather than commercial significance for NKR.

Member of the Board of the Central Bank of Armenia Aharon Chilingaryan said that INGO Armenia has all necessary resources for acting in this segment.

The sides agreed that, within two months, based on recommendations by their Nagorno-Karabakh colleagues, the Armenian insurers will offer possible ways to insure against agricultural risks in NKR.

In an interview to ArmInfo NKR Finance Minister Spartak Tevossyan said that in the future they may consider establishing a special company insuring against agricultural risks. He said that such meetings should be held on a regular basis. "We should certainly develop insurance in NKR and we may well find solutions that might prove useful for our colleagues in Armenia, where agriculture is also a risky sector," Tevossyan said.

The meeting has been organized on the initiative of Prime Insurance Brokers with the support of the NKR GOvernment.
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