The Government of India introduced the scheme from Rabi 1999-2000 season to protect the farmers against losses suffered by them due to crop failure on account of natural calamities. The scheme is currently implemented by Agriculture Insurance Company of India (AICIL). The scheme is available to all the farmers, loanee and non-loanee, irrespective of size of their holding. The scheme covers all food crops (cereals, millets and pulses) and oil seeds and Annual commercial/horticultural crops. At present, 10% subsidy on premium is available to small & marginal farmers. NAIS is presently being implemented in 24 States and 2 Union Territories. Claims are automatically calculated based on shortfall in the current season yield obtained from crop cutting experiments conducted by State Governments under General Crops Estimation Survey (GCES) as compared to threshold yield and settled through the rural banking network.
Insurance Encyclopedia
National Agricultural Insurance Scheme, Pilot Modified (mNAIS) for Crop Insurance
In 2015-16, the Modified National Agriculture Insurance Scheme is functioning as a component of National Crop Insurance Programme (NCIP). This scheme covers three kinds of crops: (i) Food crops which include cereals, millets & pulses (ii) Oilseeds (iii) Annual Commercial/Horticultural crops and provides indemnity to the farmers in the event of failure of crops and subsequent low crop yield. This scheme is available to all kinds of farmers, big or small; loanee or non-loanee; Landholders, sharecroppers or tenant farmers. However, loanee farmers i.e. those who have taken farm-loans from financial institutions are covered compulsorily. Broadly, the scheme covers three stages of crop production. First stage is of planting or sowing, if the crop was prevented from planting/sowing due to deficit rainfalls and adverse seasonal conditions. Second stage is to cover standing crops which got damaged due to unpreventable risks such as drought, flood, Inundation, Pests, Landslides, Natural Fire, Storms, Cyclones etc. Third stage is the time period of two weeks after harvesting when the crops are allowed to dry in field and something wrong happens which destroys the crop such as cyclonic rains/hailstorms etc.
National Approval Council of Security Systems (NACOSS)
An independent inspectorate for the intruder alarm industry whose approval of an intruder alarm company is often mandatory if systems are to be accepted by theft insurers.
National Association of Health Underwriters (Health Insurance)
An association of professionals that service health care needs, including brokers, agents, and consultants. The association aims to offer education and support to its members, so that they may meet the health and retirement requirements of all Americans.
National Association of Independent Insurers
An association that disseminates information about insurance law and legislation
National Association of Independent Insurers (NAII)
An advisory organization and statistical agent for insurers with a membership including hundreds of casualty and surety companies of all types throughout the U.S.
National Association of Insurance Commissioners (NAIC)
US: A trade association of state insurance commissioners that issues model insurance acts that states can adopt. The NAIC accredits states that have enacted specific insurance legislation and demonstrate adequate regulatory oversight over the insurers they license.
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An association of insurance commissioners and superintendents formed to share information and develop common laws and procedures for insurance regulatory purposes.
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REINSURANCE: An association of the chief insurance regulatory officials of the 50 states, the District of Columbia, American Samoa, Guam, North Mariana Island, Puerto Rico and the Virgin Islands.
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Association of State Insurance Commissioners whose purpose is to promote uniformity of insurance regulation, monitor insurance solvency and develop model laws for passage by state legislatures.
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US: The association of insurance commissioners of various states formed to promote national uniformity in the regulation of insurance.
National Association of Insurance Women (NAIW)
An international association of women (and men) in the insurance industry. NAIW offers the designations of Certified Professional Insurance Woman (CPIW) or Man (CPIM).
National Association of Pension Funds (NAPF)
Promotes workplace pensions. Its priority is to ensure a regulatory and fiscal environment which encourages the provision and take-up of employersponsored pensions, as well as sound stewardship of pension fund assets. (Visit www.napf.co.uk).
National Association of Professional Surplus Lines Offices (NAPSLO)
Trade association of and providing services to surplus and excess lines agents and brokers. Merged with the American Association of Managing General Agents (AAMGA) to become the Wholesale & Specialty Insurance Association (WSIA) in August of 2017.