Agriculture in India is varied, diversified and prone to a variety of risks. Most farmers are shall and marginal ones. In most areas, agriculture is rain fed, leading to a greater degree of yield variability and risk. Crop Insurance, which aims at addressing yield risk – though necessary for a vast majority of farmers – is subject to structural design and financial problems. Problems of asymmetry of information – moral hazard and adverse selection – and co-variability are more pronounced in crop insurance than in other forms of insurance. The present paper tries to depict the picture of crop insurance in India.