State support for agricultural product insurance in Ukraine
The Government of Ukraine is introducing state support for agricultural product insurance with a budget of 60 million UAH for 2026. This decision was made on December 31, when changes were made to the procedure for providing state support to agricultural producers.
According to the new conditions, agricultural producers in frontline communities can receive compensation of up to 60% of the paid insurance premiums. For other agricultural producers, the compensation will be up to 45%. Agricultural product insurance can be arranged with PJSC 'Insurance Company INGO' and PJSC 'Universal Insurance Company'. Insurance contracts will be concluded according to the list of standardized insurance products.
Objects of insurance and the purpose of the initiative
Among the insurance objects, the following are listed:
- the area of winter grain crops during the wintering period;
- winter grain crops for the entire growing season;
- the future harvest of grain crops for the spring-summer growing period.
This initiative aims to support agricultural producers and ensure stability in the country's agriculture.
The introduction of state support for agricultural product insurance is an important step towards strengthening Ukraine's agricultural sector, especially under conditions when agriculture faces numerous challenges, including military actions and climate change. — Source: Government of Ukraine
This initiative will help reduce financial risks for agricultural producers, which, in turn, may positively affect the country's food security. The support for agricultural producers in frontline areas also indicates the government's desire to maintain economic stability in the most vulnerable regions.