On April 15, President Shavkat Mirziyoyev signed the Insurance of Agricultural Risks Bill into Law, which will take effect three months after its official publication.

According to the document, agricultural producers will be able to enter into insurance contracts covering the following risks:

• natural and man-made disasters;
• fire;
• plant damage by pests and diseases;
• spread and poisoning of contagious diseases of farm animals;
• damage to agricultural crops by wild animals or damage caused by farm animals;
• actions of third parties.

The Ministry of Agriculture has been assigned as the government body coordinating the insurance of agricultural risks.

Agricultural Insurance Fund will be set up to manage insurance and protect producers from risks and compensate for damage, which will act as an insurer. The Fund will be a non-profit organization.

Agricultural insurance will be voluntary. The subjects of agricultural insurance are the fund, producers, intermediaries and independent experts.

The objects of agricultural insurance are the property interests of agricultural producers associated with the risk of loss (destruction) of future harvests and grown agricultural products, damage to crops and farm animals, as well as greenhouses and agricultural products grown in them.

The size of the insurance premium is set for each type of agricultural crops and animals and will depend on:

• features of plants, animals themselves and the risks associated with them;
• the natural and climatic conditions of the area.

If an insured event occurs, the conclusion of an independent expert will be the basis for paying insurance compensation. If the fund confirms the occurrence of an insured event, refusal to pay is not allowed. If a re-check is necessary, the fund will organize an additional investigation, and if the damage turns out to be the result of deliberate actions, compensation will not be paid.

The Bill was developed jointly with foreign experts. According to the presidential press service, in the winter of 2023, 9,000 hectares of orchards and 4,000 hectares of vineyards were damaged by frost. As a result, 207 thousand tons of crops were lost. After that, the president ordered the development of a mechanism for compensating farmers for damages from such weather conditions.