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Weather insurance is an indemnity for losses that may arise due to abnormal weather conditions These abnormal weather conditions can be events such as excess of rainfall, shortfall in rainfall or variations in temperature, wind speeds and humidity
Weather Insurance uses weather parameters as ‘proxy’ for crop yields in compensating the cultivators for deemed crop losses. Weather Insurance has been piloted in the country since kharif 2003 season States where it was piloted are Andhra Pradesh, Chhattisgarh, Gujarat, Haryana,Karnataka, Madhya Pradesh, Maharastra, Punjab, Rajasthan.Weather Insurance is based on the fact that weather conditions affect crop production even when a cultivator has taken all the care to ensure good harvest