This Act is enacted to establish an agricultural insurance system, make up for losses sustained by the agriculture, forestry, fishery and animal industry businesses from natural disasters, strengthen protection for agricultural operations and stabilize the income for farmers. Based on the policy objective and the specific demands of the industry policy of agriculture, forestry, fishery and animal industry businesses, agricultural insurance may be handled by means of mandatory insurance in whole or in part or voluntary insurance. The insurer shall underwrite the risk of agricultural insurance by means of the risk spreading and management mechanism established by the competent authority. The risk spreading and management mechanism shall be administered by the Agricultural Insurance Fund established by the competent authority; the risk transferred by the insurer shall be assumed by the foregoing fund, ceded to domestic or foreign reinsurers or handled in the manner prescribed by the competent authority. The Act further makes proviisons for: premium and subsidy, tax reduction and exemption, business management and dispute handling, penal provisions, ect.
Province chinoise de Taïwan · 2020-05-27