Objective

Support small and medium farmers, through assurance, by mitigating losses caused by climatic and biological events that affect their crops, through the recovery of direct costs of damaged production. This insurance promotes economic stability for the producer in case of an incident, and contributes to food sovereignty.

Agricultural insurance subsidy

The Ecuadorian government subsidizes 60% of the value of net insurance premium. Crops that can be covered by this insurance are: rice, bananas, sugar cane, beans, hard corn, and sweet corn, potatoes, soybeans, wheat and tree tomato. The insurance covers for different climatological and biological events such as drought, flood, excessive moisture, high winds, fire, frost, hail, uncontrollable pests, uncontrollable diseases, landslides and obstructions. By 2015, agricultural insurance will expand its coverage to the following crops: coffee, cocoa, bean, quinoa, banana and barley.

Fishing insurance subsidy

It aims to support artisanal fishermen in mitigating losses related to sea risks and due to theft, which disrupts their productive economic cycle, by recovering the value of their boat, motor/s, accessories and gear, through subsidized assurance.

Livestock insurance subsidy

It supports breeding and production of cattle in the country with a grant of sixty percent (60%) of the insurance. This tool allows the producer to recover the herd’s investment value which could be affected by risks common to the sector.

Forest Insurance Subsidy

It is an option investment recovery in the event of a natural or biological phenomenon affecting the plantation. This insurance protects the investment made by producers in their forest plantations, considering the effect related to direct costs of establishment and maintenance.

Small and medium farmers, livestock, aquaculture, forestry, artisanal fishermen and others  linked to the Ecuadorian agro productive sector.

Nacional

Ministerio de Agricultura y Ganadería

Acuerdo Ministerial 388/2011