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Since the advent of monsoon season, the destruction of crops has been colossal. Disasters do not announced their call and hence we have to be prepared in every way to attend nature's surprised package. The consequences of these calamities have not even left the farmers untouched. Around 70% of the crop production in India is subject to the vagaries of monsoon. And each year farmers face problems like irregular rainfall, drought etc. and with the sudden calamities the situation grew from bad to worse, increasing the losses tremendously. In such conditions insurance can provide coverage to the farmers when they need it the most. The impact of agricultural losses cannot be only felt in the rural areas but also throughout the country. The growing agricultural problems has brought weather insurance in the limelight.

In the states of Maharashtra and Andhra Pradesh itself, the estimated agricultural losses summed to a shocking ransom of Rs. 2000 crore. Most of these farmers located in these areas are already living in downright conditions and they couldn't expect anything worse to happen. It is definite that they too would want to protect the crops from utter destruction if it was in their hands. For a long period crop insurance was looked at as a liability and hence it received almost negligible attention. But with changing scenario, weather insurance is making its place in the rural region.

Insurers have taken steps in this direction. For instance, ICICI Lombard has come up with weather insurance that provides cover for wheat crop against extreme weather conditions. This is specifically extended to states like Punjab and Haryana. To join the cause, Agriculture Insurance Company of India is on foot with the other private companies offering insurance cover. It is going to launch products for excess rainfall in the field crops. This understanding for the unexpected events leading to crop insurance awareness can be credited to floods!

However, the rural areas have experienced the urgency for the policy. Hence insurers are extending insurance in these areas. It should also be noted that the biggest impediment the companies face is inaccessibility of precise, accurate historical weather data and lack of reliable weather stations in the remote areas. Also the India Meteorological Department (IMD) stations are situated in districts, this makes it difficult to penetrated in the remote areas. Nonetheless there is an undeniable belief that weather insurance holds the potential to grow and it certainly will. With the mounting interest, it can be judged that the day is not far when weather insurance will be every farmer's asset.