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The amount released for rural insurance hiring in May is R$ 179 million. According to Resolution No. 105 of the Interministerial Management Committee for Rural Insurance, the total is expected to reach R$ 1 billion, but the remaining amount will only be released starting in June this year.
The amount allocated to producers this month is R$ 170 million – an amount that should be used for contracting policies for winter crops, such as second harvest corn and wheat.
Another R$ 5 million will be for fruits; R$ 1 million for livestock; R$ 500 thousand for forestry; and R$ 2.7 million for other crops.
The Secretary of Agricultural Policy of the Ministry of Agriculture and Livestock, Guilherme Campos, explains that this type of rural insurance is an essential protection tool for the producer.
According to Campos, in the last five years alone, insurance companies paid approximately R$ 19 billion in indemnities to producers, allowing thousands of producers to be reimbursed for their production losses.
How to hire rural insurance?
Producers interested in hiring rural insurance should seek a broker or a financial institution that sells rural insurance policies. Currently, 17 insurance companies are authorized to operate under the Rural Insurance Premium Subsidy Program.
It’s worth noting that this modality is aimed at producers, whether individuals or legal entities, regardless of access to rural credit, who cultivate or produce species covered by the program.
The subsidy percentage for the premium is set at 40% for all cultures/activities, except for soybeans, which has a percentage of 20%. It is important to emphasize that this rule applies to any type of product and coverage, according to the norms of the Rural Insurance Premium Subsidy Program.
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