“The Federal Interblock Proposes Agricultural Multi-Risk Insurance Project for Producers and Livestock”

The deputies of the Federal interblock Carlos Gutierrez (Federal Cordoba), Alejandro “Topo” Rodriguez (Federal Consensus), and the socialist Monica Fein presented the Agricultural Multi-risk Insurance project.

The initiative encourages the creation of a Multi-Risk Agricultural Insurance as a protection and reinsurance instrument for producers and the agro-livestock activity against eventual damages caused by climatic or sanitary factors.

It also contemplates a wide and multiple coverage of claims derived from wind, frost, hail, excess rain and flooding, high temperatures and drought, as well as factors of biological origin.

In order to make it accessible to the producer, a part of the costs of the new insurance will be financed through the Agricultural Multi-Risk Fund, integrated annually with 10% of the proceeds from export rights of the Soybean Complex and with items from the National Budget.

The project contemplates that, as withholdings decrease, the National Budget items will increase proportionally, until reaching “zero withholdings” and 100% budget financing.

Likewise, it incorporates as an incentive the deduction of 50% of the expenses of coverage of the Income Tax.