Agricultural Insurance Finally Regulated

The Minister of Agriculture (“Minister”) has finally issued Regulation No. 40/PERMENTAN/SR.230/7/2015 on Agricultural Insurance Facilities (“Regulation”). As an implementing regulation of Article 19 (3) of Law No. 19 of 2013 on the Protection and Empowerment of Farmers, the Regulation will serve as a legal basis for the facilitation of agricultural insurance. It is hoped that the Regulation will ease the problems experienced by farmers in dealing with agricultural business risks and in attempting to protect their businesses.[1]