LAW OF UKRAINE

of February 9, 2012 No. 4391-VI

About features of insurance of agricultural products with the state support

This Law governs the relations in the field of insurance of agricultural products which is performed with the state support, for the purpose of protection of valuable interests of agricultural producers and is aimed at providing stability of production in agricultural industry.

Section I General provisions

Article 1. Basic concepts

1. For the purposes of this Law the terms provided below are used in the following value:

1) the state support of insurance of agricultural products - provision to agricultural producers from the government budget according to the procedure, established by this Law, money in the form of compensation of part of cost of the insurance premium (insurance payment) added according to the insurance contract of agricultural products with the state support;

2) the insurance contract of agricultural products with the state support (further - the insurance contract) - the insurance contract of agricultural products providing the insurance payment to agricultural producer defined by such agreement in case of loss occurrence;

3) index (indexes) - the special estimative normative indicator (indicators) characterizing (characterizing) probability impacts of certain agricultural insurance risk (insurance risks) on loss occurrence in case of variation of the parameter (values) of index from the value caused by the limiting insurance contract;

4) agricultural insurance risk (insurance risk) - circumstances (certain events) which have signs of probability and accident of approach and can become cause of death (losses, damages) insured crops (landings), death (shortage, short-reception) insured harvest, death (loss, forced slaughter, forced destruction, traumatic damage or disease) the insured farm animals belonging to agricultural producer on the property right or on other legal cause and also the reason of non receipt (loss) by agricultural producer of future advantage - the expected profit (income) from the realization which is grown up, fattened, caught, collected, made by it primary (without secondary processing and conversion) to agricultural products for the period of its payback;

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