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Basic premium rates on multi-peril crop insurance (MPCI) program in Moldova
Underwriters in Moldova use MPCI basic premium rates provided in the table below. The farmer can choose risks for structuring insurance coverage. This approach differs from the internationally established standards for MPCI programs, however the program is working in Moldova now while the agricultural insurance system is being developed. Premium rates on risks are summed but the underwriters can adjust the combined premium rate based on the information provided by the applicant. The companies require crops to be insured before the established deadlines, after which insurance coverage is not possible. Underwriters also use other information available. This information includes statistical crop yield data, historical loss records, crop and regional loss data, and loss data on individual farms. The insurance experts take into account assessment of the techologies used at farm and data obtained during field survey.
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