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The rainfall insurance provides effective risk management aid to those coffee growers likely to be impacted by adverse rainfall incidence. Agriculture Insurance Company of India Ltd. compensates the insured against the likelihood of diminished coffee output/yield resulting from shortfall / excess in the actual rainfall (as the case may be) for different coverage options. The insurance operates during 1 March to 31 August.
Agriculture Insurance Company of India Limited (AIC) was incorporated under the Indian Companies Act 1956 on 20th December, 2002 with an authorised share capital of INR 15 billion and paid up capital of INR 2 billion. AIC commenced business from 1st April, 2003.