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AICAgriculture Insurance Company of India Ltd.
Registered Office: 13th Floor, Ambadeep Building, 14, Kasturba Gandhi Marg,
New Delhi – 110 001, INDIA
Landline Nos:  (+91 11) 46869800, Fax No: (+91 11) 46869815
E-Mail: aicho@aicofindia.com

Agriculture Insurance Company of India Limited (AIC) was incorporated under the Indian Companies Act 1956 on 20th December, 2002 with an authorised share capital of INR 15 billion and paid up capital of INR 2 billion. AIC commenced business from 1st April, 2003.

About Us :
Agriculture Insurance Company of India Limited (AIC) has been formed at the behest of Government of India, consequent to the announcement by the then Hon’ble Union Finance Minister in his General Budget Speech FY 2002-03 that, “to subserve the needs of farmers better and to move towards a sustainable actuarial regime, it was proposed to set up a new Corporation for Agriculture Insurance”.

AIC has taken over the implementation of National Agricultural Insurance Scheme (NAIS) which, until FY 2002-03 was implemented by General Insurance Corporation of India. In addition, AIC also transacts other insurance businesses directly or indirectly concerning agriculture and its allied activities.
Share Capital
·Authorised Share Capital – Rs. 1500 Crores
·Paid-up Share Capital – Rs. 200 Crores
Promoters (Share Holding)
·General Insurance Corporation of India – 35 %
·National Bank for Agriculture And Rural Development (NABARD) – 30 %
·National Insurance Company Limited – 8.75 %
·The New India Assurance Company Limited – 8.75 %
·The Oriental Insurance Company Limited – 8.75 %
·United India Insurance Company Limited – 8.75 %
Agriculture Insurance Company of India Limited (AIC) offers yield-based and weather-based crop insurance programs in almost 500 districts of India. It covers almost 20 million farmers, making it the biggest crop insurer in the world in number of farmers served. Agriculture Insurance Company of India Limited is a limited company headquartered out of New Delhi, India
AIC aims to provide insurance coverage and financial support to the farmers in the failure of any of the notified crop as a result of natural calamities, pests and diseases to restore their creditworthiness for the ensuing season; to encourage the fanners to adopt progressive farming practices, high value in-puts and higher technology; to help stabilize farm incomes, particularly in disaster years. The plan provides comprehensive risk insurance for yield losses due to natural fire and lightning, storms, hailstorms, cyclone, typhoon, tempest, hurricane, tornado flood, inundation, landslide, drought, dry spells, pests/diseases, etc.

Offices and products:
AIC has 17 regional offices in state capitals across India. AIC sells agriculture and allied insurance products and schemes. A significant amount of business is derived out of the yield-based “National Agriculture Insurance Scheme (NAIS)”, “National Crop Insurance Programme (NCIP)” and the weather-based “Weather Based Crop Insurance Scheme (WBCIS)”. Some other products of AIC, developed in-house, are:

Rainfall Insurance Scheme for Coffee (RISC)-Coffee Rainfall insurance is a unique rainfall insurance product designed in consultation with Coffee Board, Central Coffee Research Institute and coffee growers of the states of Karnataka, Kerala and Tamil Nadu.The rainfall insurance provides effective risk management aid to those coffee growers likely to be impacted by adverse rainfall incidence. Agriculture Insurance Company of India Ltd. compensates the insured against the likelihood of diminished coffee output/yield resulting from shortfall / excess in the actual rainfall (as the case may be) for different coverage options. The insurance operates during 1 March to 31 August. The periods under different coverage are as follows: a) Blossom Shower: 1 March to 15 April/ 30 April/ 15 May. b) Backing Shower: 18th day from fulfillment of Blossom Shower till 35th day. c) Monsoon Shower: 1 July to 31 August Period of insurance under each coverage option is to be specified separately for each zone/ rain gauge station area.
Bio-fuel Tree/Plant Insurance Policy –Named-peril insurance covering six different species of plants/trees, available for commercial production of Bio-diesel, with optional cover against drought risk.
Cardamom Plant & Yield Insurance- The scheme is designed in consultation with Spices board to provide conventional cover against death/loss of plant bushes. Cover available for small and large cardamom varieties.
Potato Crop Insurance- Parametric named-peril insurance linked to plant population, available for potato growers under contract farming.

PulpWood Tree Insurance- Policy The policy covers against pecuniary loss suffered on account of total loss or damage to the trees occasioned by specific perils/risks like fire, flood, cyclone, storm, frost, pests and diseases.
RainFall Insurance- Scheme For Coffee (RISC) Failure of Blossom shovers, Backing showers and Excess rainfall during monsoon and post monsoon seasons affect the crop yield. Scheme offers cover and is implement in all coffee growing zones of Andhra pradesh, Assam, Karnataka, Kerala, Mizoram, Odisha and Tamil nadu with subsidy support from Government.
Rubber Plantation Insurance- Covers death/loss of rubber trees against natural calamities and other non preventable perils, applicable to both mature and immature plants, based on establishment cost and loss of future returns.
Varsha Bima / RainFall Insurance– Covers anticipated shortfall in crop yield on account of deficit and excess rainfall, consecutive dry and wet days, etc. It is voluntary for all classes of cultivators who stand to loose financially upon adverse incidence of rainfall and they can take insurance under the scheme. It is available for many of the seasonal field crops.
Coconut Palm Insurance- Scheme Named peril insurance designed in consultation with Coconut Development Board (CDB), covering coconut palms in the age groups of 4-15 years and 16-60 years, against death due to Fire, Lightening, Cyclone, Storm, Flood, Pests, and Widespread diseases, Earthquake, Severe Draught, etc. The pilot is available in specified districts of Andhra Pradesh, Goa, Karnataka, Kerala, Maharashtra, Odisha and Tamil Nadu. CDB would provide 50% subsidy on premium, and the concerned State to the extent of 25%, leaving the grower to pay the balance 25%.
Weather Insurance (RABI)- It is a mechanism for providing effective risk management aid to those individuals and institutions likely to be impacted by adverse weather incidences. The most important benefits of Weather index insurance are,
Trigger events like adverse weather events can be independently verified and measured.
It allows for speedy settlement of indemnities, as early as fortnight after indemnity period.
All growers, may it be Small/Marginal, Owners or Tenants/Sharecroppers can buy this weather insurance.

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