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 [1]
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 farmers 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.[1


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
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 AgricultureAnd Rural Development (NABARD) -




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 %

Significant Dates

Incorporation - 20th December, 2002

Commencement of Business - 1st April, 2003

Registered Office and Head Quarters

13th Floor,

“AMBA DEEP", 14, Kasturba Gandhi Marg, New Delhi - 110 001,
Ph. No



Fax No



E-Mail :




AIC was incorporated on 20 December 2002 with an authorized capital of Rs.
1500 crore. The initial paid-up capital was Rs. 200 crores, which was subscribed
by the promoting companies, General Insurance Corporation of India GIC
(35%), NABARD (30%) and the four public-sector general insurance
companies (8.75%) each, viz., National Insurance Co. Ltd., Oriental Insurance
Co. Ltd., New India Assurance Co. Ltd., and United India Insurance Co. Ltd.[2][3]
AIC is under the administrative control of Ministry of Finance, Government of
India, and under the operational supervision of Ministry of Agriculture,
Government of India. Insurance Regulatory and Development Authority
(IRDA), Hyderabad, India, is the regulatory body governing AIC.
AIC commenced its business operations from 1 April 2003 by taking over the
implementation of the "National Agricultural Insurance Scheme" (NAIS) from
GIC. AIC has been designated by the Govt., of India as the "Implementing
Agency" of NAIS, its country-wide crop insurance program.



 Improve delivery and service of agricultural insurance so as to bring the  remotest and poorest farmer under its umbrella in an economical and effective  manner.  Create widespread awareness about agricultural insurance as the principal risk  mitigation tool.  innovate and develop rural-oriented and farmer-friendly insurance products for  all agricultural allied risks. and thus establish it as an effective bulwark of the rural economy CHAPTER 5 AGRICULTURE INSURANCE .  Cast a protective net over agricultural and allied activities from natural perils  and risks.VIVEK COLLEGE OF COMMERCE CHAPTER COMPANY'S VISION & MISSION COMPANY'S VISION  Accelerate the economic momentum of the Nation by bringing financial  stability to rural India. COMPANY'S MISSION  Agricultural insurance products be designed and developed on scientific basis  and sound insurance principles to address diverse needs of farmers.

tailor-made & farmer-friendly insurance products for specific risk perceptions. the Crop Insurance Schemes of the Government. insuring more than 35 crops during Kharif and 30 crops during Rabi season.  6 AGRICULTURE INSURANCE .VIVEK COLLEGE OF COMMERCE COMPANY'S ACTIVITIES  Agriculture and allied insurance products.  Implementing Agency for "National Agricultural Insurance Scheme" and "Weather Based Crop Insurance Scheme".  Create innovative.

Rampal Singh Rawat Chief Manager & Chief Investment Officer 6 Sh.Malay Kumar Poddar General Manager & Chief of Internal Audit 3 Sh.VIVEK COLLEGE OF COMMERCE MANAGEMENT OF AIC OF INDIA. Ajay Singhal Chief Manager & Chief Marketing Officer 1 7 8 Sh. Avinanda Ghosh General Manager & Chief Finance Officer 5 Sh. LTD. S No. Megha Garg Manager & Chief Compliance Officer Appointed Actuary 7 AGRICULTURE INSURANCE . Sukanta Roy Chowdhury Smt. Name Designation Sh.Plappallil Joseph Chairman-cum-Managing Director & Chief Joseph Executive Officer 2 Sh. Rajeev Chaudhary General Manager & Chief Risk Officer 4 Sh.

Yet. crop production in India is dependent largely on the weather and is severely impacted by its vagaries as also by attack of pests and diseases. where the majority of the population depends on agriculture for their livelihood. India is an agrarian country. From concept to implementation. These unpredictable and uncontrollable extraneous perils render Indian agricultural and extremely risky enterprise. methodologies and practices. It is here that crop insurance plays a pivotal role in anchoring a stable growth of the sector. 8 AGRICULTURE INSURANCE . it has evolved sporadically but continuously through the century and is still evolving in terms of scope.VIVEK COLLEGE OF COMMERCE CHAPTER CROP INSURANCE Background and early attempts at Crop Insurance Crop insurance as a concept for risk management in agriculture has emerged in India since the turn of the twentieth century.


ad-hoc and scattered scale. 10 AGRICULTURE INSURANCE .1972 From beginning of the seventy’s decade. Karnataka and West Bengal. Maharashtra.88 lakh. Andhra Pradesh. the newly set up General Insurance Corporation of India took over the experimental scheme and subsequently included Groundnut. This experimental scheme was based on "Individual Approach". It was realized that crop insurance programs based on the individual farm approach would not be viable and sustainable in this country. different experiments on crop insurance were undertaken on a limited. Wheat and Potato and implemented in the states of Gujarat.VIVEK COLLEGE OF COMMERCE CHAPTER DIFFERENT TYPES OF CROP INSURANCE SCHMES FIRST EVER CROP INSURANCE SCHEME . Later.54 lakhs against claims of 37. Tamil Nadu. It continued upto 1978-79 and covered only 3110 farmers for a premium of 4. The first crop insurance program was introduced in 1972-73 by the ‘General Insurance’ Department of Life Insurance Corporation of India on H-4 cotton in Gujarat.

M.1979 Professor V. 11 AGRICULTURE INSURANCE .VIVEK COLLEGE OF COMMERCE CHAPTER PILOT CROP INSURANCE SCHEME (PCIS) . suggested an alternate “Homogeneous Area approach” for crop insurance in the mid-seventies. often referred to as the “Father of Crop Insurance in India”. Dandekar.

The risk was shared by GIC and the respective State Govt.27 lakh farmers for a Premium of 1. The insurance Premium ranged from 5 to 10 per cent of the Sum Insured. in the ratio of 2:1. millets. oilseeds. cotton. This PCIS ran till 1984-85 by which 13 States had participated. gram and barley. The scheme covered 6. the General Insurance Corporation of India (GIC) introduced a Pilot Crop Insurance Scheme (PCIS) from 1979. potato.VIVEK COLLEGE OF COMMERCE Based on this Area approach. Participation by the State Govts.57 crore.97 crore against Claims of 1. was voluntary. 12 AGRICULTURE INSURANCE . The scheme covered cereals.

Premium & Claims were shared by Central & State Government in 2:1 ratio.VIVEK COLLEGE OF COMMERCE CHAPTER COMPREHENSIVE CROP INSURANCE SCHEME (CCIS) 1985 Based on the learnings from PCIS. the Comprehensive Crop Insurance Scheme (CCIS) was introduced with effect from 1 st April 1985 by the Government of India with the active participation of State Governments. 5. 13 AGRICULTURE INSURANCE . Banking Institutions and GIC. 2. that is.per farmer. which was later increased to 150%. 4. The Scheme was optional to State Governments. The salient features of the Scheme were: 1. The maximum Sum Insured was 100% of the crop loan. It covered farmers availing crop loans from Financial Institutions for growing food crops & oilseeds on compulsory basis. 3. 6. all crop loans given for notified crops in notified areas were compulsorily covered under the CCIS. Departments of State Governments. involving Government of India. The coverage was restricted to 100% of crop loan subject to a maximum of ` 10. The Scheme was optional for the State Governments. The Premium rates were 2% for Cereals and Millets and 1% for Pulses and Oil seeds. The CCIS was implemented on Homogeneous Area approach and was linked to short-term crop credit. 50% of the Premium payable by Small & Marginal farmers was subsidized by Central and State Governments in equal proportion.000/. CCIS was a multi-agency scheme.

Himachal Pradesh. Bihar. These were Andhra Pradesh. West Bengal. Tripura. Maharashtra . & Orissa .181 Crores (8%).76 crore hectares.213 Crores (9%).VIVEK COLLEGE OF COMMERCE 15 States and 2 UTs had participated in the CCIS during its tenure from Kharif 1985 to Kharif 1999.CCIS was eventually discontinued after Kharif 1999. 14 AGRICULTURE INSURANCE . Andaman & Nicobar Islands and Pondicherry.949 crore at a premium of 403. Orissa. Assam. Karnataka.1086 crore (47%). the Scheme covered 7.56 crore. Goa. Madhya Pradesh. Jammu & Kashmir.482 Crores (21%).63 crore farmers under an area of 12. to be replaced by the improved and expanded “National Agriculture Insurance Scheme” (NAIS). Kerala. Correspondingly. Manipur and Delhi had initially joined the Scheme but opted out after few yearIn this entire period. Maharashtra. Andhra Pradesh . Tamil Nadu. About 59. Meghalaya. Gujarat. which is being continued till date.71. for a Sum Insured of 24. and the majority of the claims were paid in the States of Gujarat . thus having a Claim Ratio of 1 : 5.78 lakh farmers were benefitted.UttarPradesh.45 crore. the total claims outgo was 2303. The States of Rajasthan.

viz. During its one season.1997 While the CCIS was being implemented.11 crore at a Premium of 2. The Scheme was similar to CCIS. except that it was meant only for all small / marginal farmers with 100% subsidy on Premium. Experimental Crop Insurance Scheme (ECIS) was introduced in 14 districts of 5 States. 15 AGRICULTURE INSURANCE . The Premium subsidy and Claims were shared by the Central and respective State Governments in the ratio of 4 : 1. a new scheme.555 farmers for a Sum Insured of 168. The Scheme was discontinued after one season due to its many administrative and financial difficulties. During the Rabi 1997-98 season.VIVEK COLLEGE OF COMMERCE CHAPTER EXPERIMENTAL CROP INSURANCE SCHEME (ECIS) .54.84 crore against which the Claims paid were 37. the ECIS covered 4. attempts were made to modify the existing CCIS from time to time as demanded by the States.80 crore.

It was also the objective to provide stability to the infrastructure established by the State owned Seed Corporations and State Farms. All seed-producing organizations.2000 A Pilot Scheme on Seed Crop Insurance (PSSCI) was introduced in Kharif 2000 season in 11 States to provide financial security & income stability to the Seed Growers in the event of failure of seed crop. under Govt. All farmers growing the Foundation & Certified seed crops in the identified States /Areas. 16 AGRICULTURE INSURANCE . producing certain classes of seed for identified Crops/States/Areas were eligible. or private control.VIVEK COLLEGE OF COMMERCE CHAPTER PILOT SCHEME ON SEED CROP INSURANCE (PSSCI) . and to give a boost to the modern seed industry by bringing it under scientific principles. who had offered the seed crop for certification and had got registered with the concerned Certification Agency were eligible for coverage.

farmers often fail to maintain their income level due to fluctuations in market prices. and Kharif 2004 season in 19 17 AGRICULTURE INSURANCE . Claims would arise if the actual income (current yield X current market price) was lower than the guaranteed income (7 years’ average yield X level of indemnity [80% or 90%] X MSP). but also to reduce the government expenditure on procurement at Minimum Support Price (MSP). To take care of variability in both the yield and market price. of India. Farm Income Insurance Scheme (FIIS) during Rabi 2003-04 season. The scheme was compulsory for loanee farmers and voluntary for non-loanee farme` The premium rates were actuarial. The Scheme was implemented during 2 seasons only. The objective of the scheme was to protect not only the income of the farmer. determined for each State at the District level. despite normal production. FIIS was implemented on the basis of ‘homogeneous area’ approach in respect of rice and wheat crops only. In other words. Farmers’ income is a cumulative function of yield and market prices. to be subsidised by the Govt. The price fluctuations are outside the purview of this scheme. viz. Therefore. Rabi 2003-04 season in 18 Districts of 11 States for wheat/rice. the government introduced a pilot project. viz.VIVEK COLLEGE OF COMMERCE CHAPTER FARM INCOME INSURANCE SCHEME (FIIS) . a bumper harvest tends to bring down the market prices of grains and vice versa.2003 NAIS protects the farmers only against the yield fluctuations.

(AIC) since its commencement of business from 1st April 2003.15 lakh farmers for an area of 4. which is being implemented to date as the flagship yield based crop insurance program of the Government. the implementation and administration of crop insurance schemes. was taken over by Agriculture Insurance Company of India Ltd. which were being done by General Insurance Corporation of India (GIC).VIVEK COLLEGE OF COMMERCE Districts of 4 States for rice alone. From Rabi 1999 season.5 crore and paid claims of 28. Parallelly.02 lakh hectares for a Sum Insured (i. 18 AGRICULTURE INSURANCE .75 crore. collecting a premium of 28. guaranteed income) of 420crore.e. the CCIS was discontinued and replaced by the National Agriculture Insurance Scheme (NAIS). the scheme covered 4. In all.

defined area-wise. The Nodal points for Commercial banks will be minimum one level above the Branch office. the Nodal banks will communicate the same to the branch offices under their control. their Head Office. The Nodal points for Cooperative banks will be DCC Banks and those for RRBs. Nodal Points Would Be Designated For Implementation And These Banks Would Attend To The Following Functions: 1. Each such Nodal point would submit crop-wise./ UT. 2.VIVEK COLLEGE OF COMMERCE CHAPTER ROLE OF VARIOUS AGENCIES: (A). Each scheduled Commercial bank shall with concurrence of IA fix Nodal points which would deal with IA on behalf of branches in the division / district / state. The FIs would advance additional loan to Loanee farmers to meet requirement of Insurance charges / premium as applicable upto the extent of crop loan. 3. the Scheduled Institutions engaged in disbursing SAO loans as per the relevant guidelines of NABARD / RBI will be reckoned as Financial Institutions. On receipt of the communication on notification of crops and areas from the State Govt. in the 19 AGRICULTURE INSURANCE . ROLE & RESPONSIBILITIES OF FINANCIAL INSTITUTIONS (FIs) : For the purpose of the Scheme. monthly Crop insurance Declarations to the Office of IA.

4. the FIs shall maintain all controls and records as 20 AGRICULTURE INSURANCE . The Apex FIs shall issue appropriate instructions to Nodal banks as well as crop loan disbursing branches to ensure smooth functioning of the Scheme.VIVEK COLLEGE OF COMMERCE prescribed format. along with Insurance charges payable on all crop loans coming under the purview of the Scheme in case of Loanee farmers and based on Proposals received in case of other farmers. For insurable crop loans disbursed under Kissan Credit Card (KCC). 5.

 To guide the farmers in filing the proposal forms and collecting the required documents. 21 AGRICULTURE INSURANCE .  To prepare the consolidated statements for Loanee and Non-Loanee members. other relevant documents. forwarding the same to the branch along with the premium amount  Maintaining the records of proposal forms. statements for the purpose of verification by the district committee or representative of the insurer.VIVEK COLLEGE OF COMMERCE CHAPTER OTHER RESPONSIBILITIES OF FIS WILL BE:  To educate the farmers on the Scheme features.  Following the guidelines while disbursing crop loans and ensuring proper end-use of loan disbursed.

4. 2.In case a farmer is deprived of any benefit under the Scheme due to errors / omissions / commissions of the Nodal Bank 22 AGRICULTURE INSURANCE . The IA will have access to all relevant records/ledgers at the Nodal point/Branch/PACS at all times. Any 5. Claims received by the Nodal points. 3. In the absence of such communication. will be remitted to individual branches/PACS with all particulars within seven days and these branches/PACS will in turn credit the Accounts of beneficiary farmers within seven days.VIVEK COLLEGE OF COMMERCE SPECIAL CONDITIONS FOR FIS / NODAL BANKS / LOAN DISBURSING POINTS: 1. The list of beneficiary farmers with claim amount will be displayed by the branch / PACS. The IA will be provided with all the norms / guidelines relating to SAO crop loan disbursements as formulated by RBI / NABARD. FIs will submit Crop Insurance Declarations to IA on monthly basis. IA shall be free to not take cognisance of such modifications. amendments / simplification of procedures / norms from time to time will be duly made available to IA by the concerned institutions. where sum insured is on the basis of amount of loan disbursed and within one month time from cut-off date for receipt of proposals. where sum insured is on any other basis.

7. 23 AGRICULTURE INSURANCE . the sum insured of a crop should be on the basis of it's proportionate area. If the farmer is adopting mixed cropping. In case a farmer is deprived of any benefit under the Scheme due to errors /omissions/ commissions of the Nodal Bank/Branch/PACS. the concerned institutions only shall make good all such losses.VIVEK COLLEGE OF COMMERCE 6.

the State Government / UT administration would notify smaller defined areas for various crops. The cut-off dates for collection of proposals and remittance of premium with Crop Insurance Declarations to IA. The State Government shall issue the requisite Notification and communicate to all participating FIs during every crop season. Unit Area-wise yield data of immediate past 10 years for all crops notified under the Scheme. Crops and Defined areas notified in various districts. The State Government / UT administration would. 24 AGRICULTURE INSURANCE . landslide etc. in advance provide to the IA. ROLE & RESPONSIBILITIES OF STATE GOVERNMENT UT ADMINISTRATION: 1. 2.VIVEK COLLEGE OF COMMERCE CHAPTER (B). Premium rates and subsidy. The Notification of the State Government may essentially contain the following information: i. ii. 3. if and as applicable for various groups of farmers and crops. To the extent possible. keeping in mind that smaller areas will be more homogeneous and would be more reflective of all crop losses. iii. The State Government / UT will notify crop wise notified areas and premium rates as applicable (in case of commercial/horticultural crops) well in advance of each crop season. including localized perils like hailstorm. 4.

Further. The final Yield data in the standard format for all Unit Areas for notified crops for the crop season will be furnished to IA within the stipulated date. DCCB. The State / UT administration will release it's contribution to Corpus Fund as per the scale and dates fixed by MOA. Lead Bank representative and IA. headed by the District Magistrate. The State / Union Territory administration would ensure that Crop Estimation Surveys (CES) in general. 8. if any arising out of such data will totally rest with State / UT administration. The members will be District Agriculture Officer. To set up various monitoring Committees as required. In case. and estimation procedures in case of multiple picking crops in particular be strengthened in order to furnish accurate estimates of yield. 10.The IA will be allowed unrestricted access to records of CCEs at grass root / District / State level.State Government / UT Administration shall set up District Level Monitoring Committee (DLMC). 9. The committee will monitor implementation of 25 AGRICULTURE INSURANCE . 6.VIVEK COLLEGE OF COMMERCE 5. responsibility of such claims. the Government of India. the State /UT administration fail to furnish yield data based on requisite number of CCEs or fail to furnish yield data within the stipulated date. 11. 7. the State / UT administration will assist IA in assessing the extent of crop loss of individual insured farmers due to operation of localised perils.

1. 3. As the Scheme is optional to Non-loanee farmers. 8. 7.VIVEK COLLEGE OF COMMERCE Scheme by providing fortnightly crop condition reports and periodical reports on seasonal weather conditions. Building up crop yield database and preparation of Actuarial premium rates through a Professional agency. Co-ordination in organizing training. awareness. Responsibility for claims to the extent mentioned in the Scheme. 2. 6. loans disbursed. 5. Negotiating Re-insurance arrangement in the international market. The IA shall open separate Accounts to deal with Corpus Fund and also premiums received under the Scheme. publicity programmes. Providing returns / statistics to the Government of India. etc. adequate publicity will be provided to ensure maximum coverage of farmers through all means available at the disposal of State / UT administration CHAPTER (C). extent of area cultivated. Implementing Agency of the Scheme. 26 AGRICULTURE INSURANCE . ROLE AND RESPONSIBILITIES OF THE IMPLEMENTING AGENCY (IA): 1. 4. Underwriting and Claims finalization. The DLMC shall also monitor conduct of CCEs in the district.

Examining and exploring possibilities of setting up separate agency for implementation of the Scheme.VIVEK COLLEGE OF COMMERCE 9. 27 AGRICULTURE INSURANCE .

the proportion of different crops in a mixed cropping will have to be compulsorily declared. it is mandatory for all Loanee farmers to insist on coverage of all eligible loans (as per the Scheme provisions) under the Scheme. o The farmer must furnish area sown confirmation certificate. 3.VIVEK COLLEGE OF COMMERCE CHAPTER (D). As the Scheme is compulsory for all Loanee farmers availing SAO loans for notified crops. 7/12 / land extract or land revenue receipt should be enclosed). 2. which will be decided in consultation with StateGovernment/UTadmn. 28 AGRICULTURE INSURANCE . if required. In respect of Non-loanee farmers. The important duties in case of Non-loanee farmers are as follows: o The farmer desiring coverage should have an Account in the branch of the designated bank. the Proposals will be accepted only upto stipulated cut-off date. o The farmer must provide documentary evidence in regard to the possession of cultivable land (copy of the pass book. If the farmer is adopting mixed cropping. DUTIES OF FARMERS: 1. o The farmer must approach the designated branch / PACS and submit the proposal form in the prescribed format.


Crops Covered 2 States & Areas to be Covered 3. Salient Features Of The NAIS Scheme 1. Sum Insured / Limit of Coverage 6. Risks Covered & Exclusions 5. To encourage the farmers to adopt progressive farming practices. Farmers to be Covered 4. To help stabilise farm incomes. 3.RKBY) Objectives The objectives of the NAIS are as under:1. Premium Rates 7. pests & diseases. Premium Subsidy 8. Sharing of Risk 9. 2.VIVEK COLLEGE OF COMMERCE CHAPTER NATIONAL AGRICULTURE INSURANCE SCHEME (Rashtriya Krishi Bima Yojana . high value inputs and higher technology in Agriculture. Area Approach and Unit of Insurance 30 AGRICULTURE INSURANCE . particularly in disaster years. To provide insurance coverage and financial support to the farmers in the event of failure of any of the notified crop as a result of natural calamities.

Procedure for Approval & Settlement of Claims 15. Operational Modalities 31 AGRICULTURE INSURANCE . Financial Support Towards Administration & Operating (A&O) Expenses 16.VIVEK COLLEGE OF COMMERCE 10. Implementing Agency 20. Management of the Scheme. Levels of Indemnity & Threshold Yield 13. Estimation of Crop Yield 12. Benefits Expected from Scheme 21. Seasonality Discipline 11. Monitoring and Review 19. Reinsurance Cover 18. Corpus Fund 17. Nature of Coverage and Indemnity 14.

every insurer shall have in place proper procedures and effective mechanism to address complaints and grievances of policyholders.g. 32 AGRICULTURE INSURANCE . the Company and/or its representative. REGULATORY REQUIREMENT According to Section 5 of the Insurance Regulatory and Development Authority (Protection of policyholders' interests) Regulations 2002. 'Company' shall mean Agriculture Insurance Company of India Limited [AIC] 3. Illustrations: Policy issuance (e. admissibility. quantum. or about the standard of service of. efficiently and with speed. delay)etc. admissibility. and authorized representatives) who has a Grievance. in relation to his/her insurance coverage by the Company. 'Grievance' shall mean any written communication by a Complainant that expresses dissatisfaction about an action or lack of action by. non-issuance. 2. 'Complainant' shall mean any policyholder (including legal heirs. Claims (e. delay). Premium refund (e.VIVEK COLLEGE OF COMMERCE CHAPTER GRIEVANCE REDRESSAL POLICY [GRP] I. delay). II.g.g. quantum. assigns. DEFINITIONS 1.

a designated Officer at HO and each RO. 7. 'Week' shall mean consecutive seven Working the prescribed format to keep track of the Grievances and their Redressal. to be maintained by each designated GRO at his respective office. 'Redressal' shall mean the final disposal of the Grievance through communication to the Complainant (in case of non-redressal. 6. III. 33 AGRICULTURE INSURANCE . Grievance Redressal Officer [GRO] . 5. Sunday or Public Holiday) on which the Company is open for business.VIVEK COLLEGE OF COMMERCE 4. 'Working Day' shall mean any day (other than Saturday. stating reasons for the same). 'Regulator' shall mean the Insurance Regulatory and Development Authority [IRDA]. Grievance Redressal Register [GRR] . Chief Grievance Redressal Officer [CGRO] . as the implementing officer of GRP at the respective office 3. as the representative of the Company for its Grievance Redressal Policy [GRP] 2. GRIEVANCE REDRESSAL SET-UP OF AIC 1.a designated Officer at HO.

RO ANY To suggest/recommend to CGRO.  To apprise the Board and SCALE VI other Authorities about the Company's GR GRO HO NOT Implementation and BELO compliance of W IV the Grievance Redressal Policy at the CGRO respective office. OFFIC Systemic amendments. To report to CGRO periodically about the GR status at the respective office. with a ER view to minimize the incidence of 34 AGRICULTURE INSURANCE . if any.OFFI OFFIC OFFIC CE E ER HO LEVEL NOT CGR O VIVEK COLLEGE OF COMMERCE RESPONSBILITIES NOMINATIN GG AUTORITY  Representative of the Company CMD BELO for its W Grievance Redressal Policy [GRP]  Appellate Authority for the Grievance cases.

remarks. if any). a receiving signature is necessary. If the Grievance has not been redressed by the end of 4 (four) Weeks of its receipt. In case of personal submission. personal submission. it shall be communicated to the Complainant in the Acknowledgement itself. 2. 35 AGRICULTURE INSURANCE .. an Acknowldgement shall be sent by the GRO to the Complainant. 3. the Acknowledgement shall mention the estimated time limit of Redressal (not exceeding 4 (four) Weeks from receipt). 4. 6. the GRO shall enter the details thereof in the Grievance Redressal Register [GRR]. Effort should be made by GRO to redress every Grievance within 5 (five) Working Days from the date of its receipt. e-mail. AND. GRIEVANCE REDRESSAL PROCEDURE 1. etc. the GRO shall send to the Complainant a further letter informing the reasons for such delay and the further estimated time limit (not exceeding 8 (eight) Weeks from receipt) for Redressal. If the Grievance has not been redressed within 5 (five) Working Days from its receipt. If the same is achieved. Grievance (reference no. and Redressal (set-up & procedure.VIVEK COLLEGE OF COMMERCE CHAPTER V. Within 5 (five) Working Days of receipt of a Grievance. 5. A Grievance may be communicated by the Complainant to the Company [GRO] in writing. fax. through post. Upon receipt of a Grievance. contact). designation. estimated Redressal time/finalRedressal). containing details of the GRO (name.

VIVEK COLLEGE OF COMMERCE 7. 36 AGRICULTURE INSURANCE . the matter can be escalated to Appeal by the Complainant before the CGRO. If the Grievance has still not been redressed at the level of the GRO by the end of 8 (eight) Weeks of its receipt.

APPEAL 1. The Appellate Authority (CGRO) shall decide the Appeal (and thus close the Grievance) within 4 (four) Weeks of receipt of Appeal (in case of non6 Redressal. 2. Any Grievance escalated to Appeal shall be automatically (online) reported to the Regulator through integration of the Company's IT system with that ofthe Regulator. c) If the Complainant is not satisfied with the Redressal of Grievance by theGRO. 5. To this end. Per clauses 3 and 6 of Section V) within 2 (two) Weeks of the mandated time 4. The Appellate Authority under GRP shall be the CGRO.VIVEK COLLEGE OF COMMERCE CHAPTER VI. An Appeal can be preferred in writing within 12 (twelve) Weeks from the date of communication of the Grievance to the Company. 9. fair play and equity while deciding the Appeal. It is abundantly clarified here that beyond this time limit the Complainant shall lose his right to Appeal. Till such time as a suitable IT system is 37 AGRICULTURE INSURANCE . 6. stating reasons for the same). b) If the Grievance has not been redressed at the level of the GRO by the end of 8 (eight) Weeks of its receipt. 8. Limits. The decision of the Appellate Authority (CGRO) shall be final and shall close the Grievance. This final decision shall be communicated to the Complainant by the CGRO. and the Grievance shall be deemed to have been closed. the Appellate Authority shall be guided by the principles of natural justice. 7. If the Complainant has not received any of the mandated communiqués (as 3. A Complainant may escalate the Grievance to Appeal in the following Circumstances: 1.

VIVEK COLLEGE OF COMMERCE developed. the CGRO shall periodically report to the Regulator the pending Appeal cases. 10. 38 AGRICULTURE INSURANCE . 11.

VIVEK COLLEGE OF COMMERCE CHAPTER VII. 39 AGRICULTURE INSURANCE . c) Where the Appeal decision has been communicated to the Complainant by the CGRO. FINAL REDRESSAL AND CLOSURE OF GRIEVANCE 1. 2. by the CGRO). b) Where the Complainant has not preferred an Appeal within 12 (twelve) Weeks from the date of communication of the Grievance to the Company. his/her acceptance of the Company's Redressal of Grievance. A Grievance shall be treated as finally redressed and/or closed in any of thefollowing circumstances: a) Where the Complainant has indicated in writing. The final Redressal and closure of Grievance shall be communicated to the Complainant by the GRO concerned (in Appeal cases.

in order to improve a) The Grievance Redressal Policy of the Company b) The process. with a view to minimizing the incidence of Grievance. 2. The CGRO shall periodically review the Grievance Redressal procedure. systems & activities of the Company to reduce the incidence ofthe Grievance. REVIEW AND REPORTING 1. 40 AGRICULTURE INSURANCE . reports submitted by the GRO. in respect of Grievance Redressal status. 3. The GRO shall periodically submit an analytical report to the CGRO in a prescribed format (prescribed by CGRO from time to time). if any. Ombudsman and other judicial Bodies.VIVEK COLLEGE OF COMMERCE CHAPTER VIII. The GRO may suggest/ recommend to the CGRO. cases decided by various Consumer Fora. systemic amendments.