The Nepal Insurance Regulatory Authority issued a circular to all licensed non-life insurance companies updating the production-based vegetable crop insurance framework by adding potato crops to the insurable vegetable schedule, after potato-specific details had been omitted. The authority incorporated new schedule entries under serial numbers 10 to 10.6, classifying potatoes as a seasonal “Potato Group” with single crop coverage and setting sums insured and crop periods for specific varieties: Potato (P.S.) (sum insured 30; 110–120 days), Potato (Janakdev) (30; 110 days), Potato (Desiree) (15; 90–120 days), Potato (Cardinal) (10; 60–110 days), Potato (Kufri Jyoti) (15; 120–140 days), and Local Potato (15; 60–120 days). Insurers are instructed to determine potato crop insurance coverage in line with the updated schedule.
Nepal Insurance Regulatory Authority updates vegetable crop insurance guidelines to include potato crop coverage
The Nepal Insurance Regulatory Authority has updated the production-based vegetable crop insurance framework to include potatoes in the insurable vegetable schedule. The circular specifies coverage details for various potato varieties, including sums insured and crop periods, under a new "Potato Group" classification. Insurers are directed to align potato crop insurance coverage with the updated schedule.