The second AgroInsurance 2023 international conference on "Investments and risk management" has started in Tashkent

On March 25, the AgroInsurance 2023 second international conference of agricultural producers and financiers on "Investments and risk management" began its work by discussing the prospects for the development of Uzbekistan's agriculture.

Agrarian sector plays an extremely important role in the social well-being and economic development of our country. Agriculture provides significant growth of Uzbekistan's GDP, guarantees food security and provides jobs for more than a quarter of the economically active population. A good harvest is good for everyone. But if crop failure occurs, the whole country will suffer from its consequences. That is why each of us strives to support the activities of our farmers. Scientists are developing new ways to combat natural disasters that can destroy our fertile soil and crops. Insurers and bankers are looking for new ways to provide reliable financial protection to farmers and provide them with more financing.

The AgroInsurance 2023 conference, organized by the insurance company "Semurg Insurance" and the Association of Cotton-Textile Clusters with the support of the Ministry of Agriculture of the Republic of Uzbekistan, will be held to discuss ways to develop the agriculture of Uzbekistan. gathered international scientists in the field of insurance, the largest clusters, international re-insurers and funds, representatives of our country and foreign financial organizations. The central topic of the conference was crop insurance. Leading international experts have noted that crop insurance performs two of the most important functions in the world. First, cash compensation paid directly to farmers will help them overcome the consequences of crop failure and rebuild their agribusiness.

As the representatives of the insurance company "Semurg Insurance" explained, payments under their agroinsurance program are guaranteed because of cooperation with the large reinsurance company "Swiss Re", which has a very high reliability rating. Thanks to such international cooperation, the farmer of our country can rest assured that he will receive payment from the insurer even during large losses, which have recently become commonplace in agriculture. The second. Insurance helps farmers not only to save their business, but also to develop it successfully. A financial instrument unique to Uzbekistan, but widely used in international practice, was presented at the conference. This is the use of the insured future harvest as collateral for obtaining a loan for the development of agricultural business. "This program allows not only to carry out seasonal work, but also to get loans for the expansion of cultivated areas and the purchase of equipment. At the moment, no other security is required, except for the pledge of future agricultural crops," explained the representatives of "Semurg Insurance".

The participants of the conference expressed great interest in the raised topics and asked many questions about the guarantees of international reinsurance companies, the role of insurance in obtaining loans, and the possibility of receiving subsidies from international funds. With the support of the Ministry of Agriculture, the Ministry of Investment, Industry and Foreign Trade, the Ministry of Economy and Finance, the Insurance Market Development Agency, as well as the largest international reinsurance companies "Swiss Re", "Europa Re". The second international conference of AgroInsurance 2023 is an important step towards comprehensive development of the agroinsurance industry in our country. "Semurg Insurance" company, with the support of international partners and the Ministry of Agriculture of Uzbekistan, is ready to develop reliable agro-insurance programs that will contribute to the sustainable development of agriculture in our country.