Special Thematic PartnerNational Association of Agricultural Insurers (NAAI)National Association of Agricultural Insurers (NAAI) is the non-commercial professional association of Russian insurers who provide state-supported crop and animal insurance. NAAI was formed in 2007 by a group of insurance companies to assist the promotion of modern agricultural insurance in Russian Federation. During 2007-2010, the association actively participated in the process of legal reform related to Russian national system of agricultural insurance, which resulted in the new Federal Law on State Support to Agricultural Insurance ¹260-FZ, entered into force in January 1, 2012. From this date onwards NAAI is acting as a professional insurance association authorized by the Low ¹260-FZ to implement state-supported insurance system for farmers. In 2012, NAAI established guarantee fund required by the law with the aim to protect the insured’s interests in the case of bankruptcy of any of its members. According to NAAI data, in 2012 the members of NAAI have issued state-subsidized crop insurance policies covering 62% of total insured area of crops in Russia. The share of the state-supported agricultural insurance market, attributable to NAAI members, amounted to 55,3%, with total volume of annual premiums in this segment achieving level of 10,3 bln rubles (about 320 mln USD). As of May 1, 2012 NAAI incorporated 27 member companies. The NAAI membership is based on voluntary participation principle.
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