Universal crop insurance crucial for strengthening India’s agricultural resilience: AIC CMD

New Delhi: Universal crop insurance coverage is essential to safeguard farmers against increasing climate and market risks and to build a more resilient agricultural sector, according to Dr. Lavanya R. Mundayur, Chairman-cum-Managing Director of the Agriculture Insurance Company of India (AIC). Speaking during a fireside chat at the National PSU Summit 2026 held in New Delhi on June 19, Dr. Mundayur stressed that wider insurance coverage would improve risk management, lower costs and provide protection to all farmers, particularly small and marginal cultivators. “Universal coverage would strengthen the risk pool and ensure that every farmer has access to a basic safety net,” she said. Highlighting the challenges faced by Indian agriculture, Dr. Mundayur noted that farmers continue to deal with uncertainties related to production, prices, distribution systems and climate conditions. While insurance can help absorb some of these risks, she said broader improvements across the agricultural ecosystem are equally important. She pointed out that climate change has intensified vulnerabilities in the sector, making risk management more critical than ever. However, she emphasized that insurance alone cannot address every challenge confronting farmers. According to Dr. Mundayur, nearly 88 percent of India’s farmers belong to the small and marginal category, making access...