Georgia May Introduce Turkish Agro Insurance Model

The successful model of agricultural insurance in Turkey could be introduced in Georgia, stated program manager of agricultural insurance, Levan Magradze.

Turkey's centralized organization provides agricultural insurance. It arranges certification of the evaluators and experts who have to arrive at the site of damage. It provides stability, determines long-term plans and encourages insurance companies to invest, whether it is to open a branch in the region or to hire new employees.

“This is a very successful model in Turkey. We believe that it is possible to implement this model in Georgia. The evaluation process in underway. It is possible we won’t copy the Turkish model as it is because there are some distinctive conditions,” said Levan Magradze.

According to Magradze, the future project will ensure maximum coverage so more people will be able to buy insurance. This allows insurance companies to decrease product prices and it would be possible to reduce taxes in terms of subsidy and co-beneficiary.