Provident Capital Indemnity Newsdesk: Argentine Fruit Growers To Get Extension For Hail Insurance

Online, November 17, 2010 (Newswire.com) - A northwestern Argentina province will extend hail insurance to growers of fruits, tomatoes and olives, according to local news website Diario de Cuyo.

Widespread damage to crops and growers in San Juan province, especially from hail, has caused economic losses for the last few seasons. In 2009, the government of San Juan province extended insurance to wine-grape growers, and now that program applies to growers of other fruits, including melons and watermelons, tomatoes and olives, the website said.

The program could lessen the risks for growers and help with long term planning. The insurance would cover all losses on plots smaller than 8 hectares, according to the website. Losses on plots between 8 and 50 hectares would be covered according to a formula. Growers could insure each type of fruit they grow, the website said.

Provident Capital Indemnity Newsdesk - MG - November 2010

Provident Capital Indemnity is a specialist insurance and reinsurance company. Founded in 1991, the Company underwent a full operational and management restructuring following the appointment of Dr Minor Vargas as President and CEO in 2005. It currently has total assets of over USD185million and has maintained a 5A/5AS Dun & Bradstreet rating since 1998.

Current growth areas for the Company include Financial Guarantee Bonds for the financial services sector and Surety Bonds to commercial and industrial organisations which guarantee the faithful performance of contractual obligations between parties and payment where the principal defaults. www.providentinsurances.com