Int'l event on promoting crop insurance in BD begins

A two day-long international event titled "Transmitting Global Knowledge for Promoting Crop Insurance in Bangladesh" began on Tuesday in the city.

Professional Advancement Bangladesh Ltd. (PABL), a subsidiary of Green Delta Insurance Company Ltd., in association with Insurance Foundation of India (IFI), organized the event, said a statement.

International experts on crop insurance, Dr. Olena Sosenko from Switzerland, Dr. Ajay Verma, Makarand Kulkarni, Suresh Kumar Sethi from India and Ali Tareque Parvez Cert CII (UK) from Bangladesh spoke on the occasion.

Shafiqur Rahman Patwari, Chairman of IDRA, attended as the chief guest of the event while Feisal Hussain, Team Leader of BFP-B Challenge Fund, was present as special guest.

Farzana Chowdhury, MD & CEO of Green Delta Insurance, Nasir A. Chowdhury - Advisor & Founding MD of Green Delta Insurance and Gokul Chand Das - Member of Insurance Development Authority of Bangladesh (IDRA) also addressed the opening session.

Mr. Patwari, expressing his high hopes for the agri-insurance sector, said, "IDRA on its part, has already taken initiatives to increase awareness about insurance among the masses and will facilitate the expansion of the sector by formulating policies and enabling regulations that would serve as pillars for insurance sector to become a major contributor in country's economic growth."

He also mentioned about the limitations of the previously conducted agri-insurance pilot projects based on data of Bangladesh Metrological Dept. and praised Green Delta Insurance for initiating agri-insurance to provide coverage for any crop at any season across Bangladesh through integration of digital weather data using satellite support.

Besides a pool of international delegates, many local delegates from different banks, insurance companies and development organizations operating in crop financing and crop insurance, also attended the event.

The event aimed at transmitting the knowledge of the international experts on crop insurance to the delegates and thus promoting the scope and necessity of Crop Insurance in the context of Bangladesh.