OREANDA-NEWS. September 15, 2009. Oranta confirmed the decision to take part in the Project of the International Financial Corporation (IFC) on agro-insurance development in Ukraine, particularly in testing of a new product "Multi-risk insurance of a winter wheat on the full cycle of manufacture".

The product provides insurance protection of the future crop of a winter wheat during the full cycle of manufacture, from the sprouts stage and until the harvest period, against the list of the basic agricultural risks (multi-risk insurance).

Within the limits of the product an insurance covering, instead of the franchise is applied making the product more transparent and clear for the consumers. For this product the terms and regulations of each of the insurance process stages are accurately registered, price options are clearly defined, and procedures of settlement of damage both after re-wintering of plants, and by results of influence of spring-and-summer risks are accurately regulated.

The rates of insurance compensations for the new product are calculated with the help of actuarial methods in a framework of pilot areas.

In course of the Project’s realization Oranta will conduct marketing campaign aimed at the agricultural manufacturers, using standard forms of the insurance contracts developed in conjunction with the IFC, with the objective to carry out the procedures of risk acceptance and damage settlements in accordance with the standard techniques developed by experts of the Project. Upon the completion of the campaign Oranta’s experts will provide their suggestions on how to promote and improve this product.