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India: Delayed insurance settlement affecting farmers, says regulator

April 23, 2014 - 6:00am

India's insurance regulator has called on government bodies and other agencies to accelerate the process of settling crop insurance claims, The Hindu Business Line reported.

M. Ramprasad, member of the Insurance Regulatory and Development Authority, said "claims of a particular crop season are being settled almost after the expiry of the subsequent season."

Meanwhile, All-India Kisan Sabha vice-president S. Malla Reddy said "premiums are so high that farmers are reluctant to go for insurance cover."

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