Loan Insurance
Grameen micro finance institution protected their increased cost of loan recovery and repayment moratorium in case of adverse weather impacting the crop growth of their farmer customers
Who Can Benefit
- Commercial Banks
- Non-Banking Financial Companies
- Micro Finance Institutions
- Regional Rural Banks
- State & District Cooperative Banks
- Primary Agricultural Credit Societies
Earthquake
Cyclone
Drought
Flood
Sample Policy
A micro finance institution protected increased cost of loan recovery and repayment moratorium risk due to adverse weather impacting crop growth of farmer customers.
Coverage Terms
POLICYHOLDERGrameen Micro Finance Companies
LOCATIONHariharganj, Palamu, Jharkhand
DATA SOURCE: 1IMD Gridded Rainfall Data (Geo reference: 24.5°N 84.25°E)
DATA SOURCE: 2IMD Gridded Temperature Data (Geo reference: 24.5°N 84.5°E)
PAYOUT BASED ONCumulative Rainfall or Avg Max Temp during Critical Sowing Period
COVERAGE PERIOD1st June to 30th November
PAYOUT CONDITIONCumulative Rainfall < 300 mm OR Average maximum temperature > 35°C
PAYOUT1 month's EMI per outstanding loan
Payout Sheet
For illustration purposes, a sample of one cover is presented below. Generally, covers using multiple indices are offered for comprehensive coverage.
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