Act on insurance of agricultural crops and livestock.

This Act, which is composed of 12 paragraphs, lays down provisions concerning: (1) subsidies for concluding insurance contracts against the risk of occurrence of the effects of fortuitous events in agriculture; (2) concluding and implementing mandatory crop insurance contracts against a specific risk of occurrence of the effects of fortuitous events in agriculture; (3) subsidies to cover part of compensation for damage caused by drought. The financial resources come from the national budget managed by the minister competent for agriculture. The aim of this Act is to support farmers who suffer losses due fortuitous events, including fire, hurricane, flood, heavy rain, hail, thunderstorm, explosion, land sliding, avalanche, drought, results of freezing or ground frost, and necessary slaughter.