of September 11, 2020 No. 183
About subsidized insurance in agricultural industry
The parliament adopts this organic law.
(1) the Purpose of this law are stimulation of farmers to insurance of the valuable interests upon the risks relating to agricultural activities and protection of these interests in the course of insurance of industrial hazards in agricultural industry.
(2) This law governs the relations between insurers and farmers arising in the course of insurance in agricultural industry and also the relations which are established between them, on the one hand, and bodies of public management, on the other hand, in connection with subsidizing of insurance premiums by the state.
Subsidized insurance in agricultural industry (further - insurance in agricultural industry) is performed according to provisions of this law. The situations which are not regulated by this law are regulated by the Civil code and the Insurance law No. 407/2006.
(1) Subjects of the insurance relations in agricultural industry are the insurer, the insurer, the beneficiary of insurance, and also the state regarding subsidizing of insurance premiums in agricultural industry.
(2) the farmer determined by the Law on subsidizing of agricultural industry and the rural zone No. 71/2023, which insured the present and future agricultural property can act as the insurer.
(3) Object of insurance is the agricultural property which is in civil circulation concerning which prohibitions or restrictions are not established by the law and which is regulated by this law.
(4) in case of transfer to lease of farmlands the harvest of crops and long-term plantings is insured by the lessee. The insurance premiums paid by the lessee cannot join in offsetting of the rent.
(1) Insurers are legal entities - holders of the licenses for implementation of activities for insurance granted by the National commission on the financial market in category "general insurance" with the right to be engaged in activities for classes of insurance 8 and 9, specified in the Section In appendices 1 to the Insurance law No. 407/2006, which based on the arrived insurance premiums pay insurance indemnities for the damage caused by the insurance risks provided by this law.
(2) About special conditions of insurance of industrial hazards in agricultural industry, and also the insurer notifies the National commission on the financial market and the Ministry of Agriculture and the food industry on change of these conditions.
(3) Without prejudice to the requirements established by the National commission on the financial market to content of conditions of insurance, special conditions of insurance of industrial hazards in agricultural industry in value of part (2) are included:
a) list of agricultural property and insurance risks;
b) characteristic of insurance risks;
c) the amount of insurance coverage and the size of the franchize used separately for each object and insurance risk;
d) method of assessment of damage and calculation of insurance indemnities.
(4) Insurers who notified on special conditions of insurance of industrial hazards in agricultural industry acquire the right:
ceased to be valid;
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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