Agricultural Insurance is a financial mechanism, which minimizes the uncertainty of loss in crop production, by factoring in a large number of uncertainties, which impact crop yields distributing the loss burden. The significant presence of the risk mitigating instrument “ Agricultural Insurance â€ in the state needs to be studied in terms of area coverage, the crops being covered and many other aspects. The variable in this study is “ performance â€ which is operationalized as the functioning of Agricultural Insurance Schemes in Punjab. The research instrument; a questionnaire was being prepared for gathering information. The highest number of farmers and livestock were being covered by National Insurance Company Ltd. i.e 31,000 and 2, 48,000 respectively. The livestock insurance is a successful scheme in the state since the overall ratio of premium to compensation provided is more than 1. In the state AIC piloted Weather Based Crop Insurance Scheme (WBCIS) for paddy crop during Kharif, 2008 in the Kalanaur block of Gurdaspur district of Punjab state. The other two companies who had presence in the state offering weather insurance were IFFCO-Tokio General Insurance Company Ltd. (ITGI) and ICICI Lombard General Insurance Company Ltd. Thehighest number of farmers was insured by IFFCO-Tokio General Insurance Company Ltd. (ITGI) with the highest amount of operational area covered i.e. 21,386 acres. The success and efficiency of the weather insurance depend a great deal on establishing accurate correlation between productivity levels and weather variations

Keyword: Weather Insurance; Cattle Insurance; Performance; Weather variations;