THE AGRICULTURAL INSURANCE IN IRAQ AND RELATED SERVICES

A. Mustafa, S.

	THE AGRICULTURAL INSURANCE IN IRAQ AND RELATED SERVICES
IRAQ JOURNAL OF AGRICULTURE
Article 1, Volume 14, Issue 9, 2009, Pages 0-0
Author
S. A. Mustafa
Abstract
The third of Agricultural production in Iraq is subjected annually to loss and damages, The crop pests caused 20-60% loss, depending on crop type, locality and environmental factors. Also, the animal resources are subjected annually to both disease and infection at a rate of 10-25%. The importance of agriculture insurance appeared in reducing the economic impact to lowest levels if occurred. According to the general companies law numbered 220in 1997. Three insurance firms are operating in Iraq. Namely, the national insurance company, the general Iraqi insurance company and the reinsurance state company, The insurance assets of these companies were 70% of the loss values. It can be concluded that the agricultural insurance services in Iraq cover the animal production, theaft, fire, tractors, all were in favour of insurance companies for 1991-2002. On the countrary, the plant production was. Also, It was observed that contract numbers were dropped, while, both payments and compensation values rose. This may due to hyper inflation of prices. The insurance and related services were in fact limited due to several hindrances, such as, lack of statistics data, risk identifications, price fluctuations and working staff. The investigation recommended employment of statistics cards, adoption of central insurance system and spreading insurance system and spreading insurance concept.

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