this article has multiple issues . please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages this article may require cleanup to meet wikipedia s quality standards . the specific problem is borked punctuation random s please help improve this article if you can . july 2013 learn how and when to remove this template message the topic of this article may not meet wikipedia s notability guidelines for companies and organizations . please help to establish notability by citing reliable secondary sources that are independent of the topic and provide significant coverage of it beyond its mere trivial mention . if notability can not be established the article is likely to be merged redirected or deleted . find sources agriculture insurance company of india news newspapers books scholar jstor free images july 2013 learn how and when to remove this template message this article relies too much on references to primary sources . please improve this by adding secondary or tertiary sources . july 2013 learn how and when to remove this template message this article may contain improper references to self published sources . please help improve it by removing references to unreliable sources where they are used inappropriately . july 2013 learn how and when to remove this template message learn how and when to remove this template message agriculture insurance company of india limited type limited liability company industry insurance founded 2002 headquarters 13th floor amba deep building 14 kasturba gandhi marg new delhi 110001 key people shri joseph plappallil chairman & managing director products crop insurance number of employees 245 website official website agriculture insurance company of india limited aic offers yield based and weather based crop insurance programs in almost 500 districts of india.it is a public sector insurance company . 1 it covers almost 20 million farmers making it the biggest crop insurer in the world in number of farmers served . agriculture insurance company of india limited is a limited company headquartered out of new delhi india 2 aic aims to provide insurance coverage and financial support to the farmers in the failure of any of the notified crop as a result of natural calamities pests and diseases to restore their creditworthiness for the ensuing season ; to encourage the farmers to adopt progressive farming practices high value in puts and higher technology ; to help stabilize farm incomes particularly in disaster years . the plan provides comprehensive risk insurance for yield losses due to natural fire and lightning storms hailstorms cyclone typhoon tempest hurricane tornado flood inundation landslide drought dry spells pests diseases etc. 2 contents 1 incorporation 2 commencement of business 3 offices and products 4 see also 5 external links 6 references incorporation edit aic was incorporated on 20 december 2002 with an authorized capital of rs . 1500 crore . the initial paid up capital was rs . 200 crores which was subscribed by the promoting companies general insurance corporation of india gic 35 % nabard 30 % and the four public sector general insurance companies 8.75 % each viz . national insurance co. ltd. oriental insurance co. ltd. new india assurance co. ltd. and united india insurance co. ltd. 3 4 aic is under the administrative control of ministry of finance government of india and under the operational supervision of ministry of agriculture government of india . insurance regulatory and development authority irda hyderabad india is the regulatory body governing aic . commencement of business edit aic commenced its business operations from 1 april 2003 by taking over the implementation of the national agricultural insurance scheme nais from gic . aic has been designated by the govt . of india as the implementing agency of nais its country wide crop insurance program . offices and products edit aic has 17 regional offices in state capitals across india . aic sells agriculture and allied insurance products and schemes . a significant amount of business is derived out of the yield based national agriculture insurance scheme nais national crop insurance programme ncip and the weather based weather based crop insurance scheme wbcis . some other products of aic developed in house are rainfall insurance scheme for coffee risc 5 coffee rainfall insurance is a unique rainfall insurance product designed in consultation with coffee board central coffee research institute and coffee growers of the states of karnataka kerala and tamil nadu.the rainfall insurance provides effective risk management aid to those coffee growers likely to be impacted by adverse rainfall incidence . agriculture insurance company of india ltd. compensates the insured against the likelihood of diminished coffee output yield resulting from shortfall excess in the actual rainfall as the case may be for different coverage options . the insurance operates during 1 march to 31 august . the periods under different coverage are as follows a blossom shower 1 march to 15 april 30 april 15 may . b backing shower 18th day from fulfillment of blossom shower till 35th day . c monsoon shower 1 july to 31 august period of insurance under each coverage option is to be specified separately for each zone rain gauge station area . bio fuel tree plant insurance policy named peril insurance covering six different species of plants trees available for commercial production of bio diesel with optional cover against drought risk . cardamom plant & yield insurance the scheme is designed in consultation with spices board to provide conventional cover against death loss of plant bushes . cover available for small and large cardamom varieties . potato crop insurance parametric named peril insurance linked to plant population available for potato growers under contract farming . pulpwood tree insurance policy the policy covers against pecuniary loss suffered on account of total loss or damage to the trees occasioned by specific perils risks like fire flood cyclone storm frost pests and diseases . rainfall insurance scheme for coffee risc failure of blossom shovers backing showers and excess rainfall during monsoon and post monsoon seasons affect the crop yield . scheme offers cover and is implement in all coffee growing zones of andhra pradesh assam karnataka kerala mizoram odisha and tamil nadu with subsidy support from government . rubber plantation insurance covers death loss of rubber trees against natural calamities and other non preventable perils applicable to both mature and immature plants based on establishment cost and loss of future returns . varsha bima rainfall insurance covers anticipated shortfall in crop yield on account of deficit and excess rainfall consecutive dry and wet days etc. it is voluntary for all classes of cultivators who stand to lose financially upon adverse incidence of rainfall and they can take insurance under the scheme . it is available for many of the seasonal field crops . coconut palm insurance scheme named peril insurance designed in consultation with coconut development board cdb covering coconut palms in the age groups of 4 15 years and 16 60 years against death due to fire lightening cyclone storm flood pests and widespread diseases earthquake severe draught etc. the pilot is available in specified districts of andhra pradesh goa karnataka kerala maharashtra odisha and tamil nadu . cdb would provide 50 % subsidy on premium and the concerned state to the extent of 25 % leaving the grower to pay the balance 25 % . weather insurance rabi it is a mechanism for providing effective risk management aid to those individuals and institutions likely to be impacted by adverse weather incidences . the most important benefits of weather index insurance are trigger events like adverse weather events can be independently verified and measured . it allows for speedy settlement of indemnities as early as fortnight after indemnity period . all growers may it be small marginal owners or tenants sharecroppers can buy this weather insurance . see also edit agricultural insurance in india external links edit official website references edit 1 a b swagatam . agriculture insurance company of india limited . retrieved 2 july 2013 . about us . agriculture insurance company of india ltd . business maps of india.com . retrieved 2 july 2013 . present products . v t e insurance in india companies agriculture agriculture insurance company of india general bajaj allianz cholamandalam ms general insurance corporation of india hdfc ergo icici lombard national insurance new india assurance oriental insurance reliance tata aig united india shriram general insurance co. ltd. health employees state insurance esi max bupa star health life aviva india aegon religare bajaj allianz hdfc life icici prudential life insurance idbi federal life insurance indiafirst life insurance company exide life insurance previously ing vyas life india lic max life peerless group reliance sbi life sun life financial shriram life insurance co. ltd. insurance repository cdsl nsdl other insurance repository in india cisr insurance institute of india insurance regulatory and development authority irda policybazaar india rashtriya swasthya bima yojana category retrieved from https en.wikipedia.org w index.php title agriculture insurance company of india & oldid 732306418 categories insurance companies of indiaagriculture companies of indiacompanies based in new delhiagricultural insurance in indiahidden categories use dmy dates from december 2014use indian english from december 2014all wikipedia articles written in indian englisharticles needing cleanup from july 2013all articles needing cleanupcleanup tagged articles with a reason field from july 2013wikipedia pages needing cleanup from july 2013articles with topics of unclear notability from july 2013all articles with topics of unclear 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