Claims are automated; and will be settled on the basis of actual rainfall, temperature, and wind speed data received from the concerned agencies / institutions. Claims when become payable, will be paid at a uniform rate to all the insured growers in the area growing mango crop.
Basis of assessment of claims:
Subject to the terms, conditions and exclusions specified in the policy, the policy compensates the insured, against the likelihood of deviation in the normal weather parameters significant for normal yield within a specific geographical location and time period, subject to a maximum of the Sum Insured under each parameter specified in the Schedule to the policy.
The insured shall be required to furnish the copy of the policy / confirmation certificate as a proof of insurance and any other document / proof specifically requested by AIC for the settlement of the claim.