Agra Asigurari paid out RON 65 million in claims to farmers whose crops were affected by extreme weather in June 2024, informs Agerpres.
In the 2023-2024 agricultural season, out of the portfolio comprising 1.508 million hectares insured, with almost 6,000 active policies, damage notices were reported form over 50% of them.
The company's analysis shows that Constanta County was one of the most affected by extreme weather, with almost 600 approvals, of which more than half were caused by soil drought and frost. Also, Olt County was extremely affected, with over 320 notices, followed by Dolj, with 310 damage notices.
In June 2024, more than 1,200 damage notices were registered in the insurer's portfolio, with the total value of claims of RON 65 million paid out to the affected farmers.
The largest claims, of RON 5,476,128, was paid out to a farmer from Ilfov County, whose rapeseed and winter wheat crops were devastated by hail.
"The most frequent risks reported this season were hail, storms and torrential rains, each generating over 1,000 damage notifications. These phenomena have had a devastating impact on crops, underscoring how much global warming is disrupting agricultural activities. We can no longer talk about the seasonality of meteorological phenomena or a stable agricultural calendar valid for the entire country. Efficiency in risk management must become a priority for every farmer. Agricultural insurance provides a safety net, allowing business to continue in the face of climate unpredictability," Horia-Adrian Lupu, general manager of Agra Asigurari, is quoted as saying in a press statement released by the insurer on Wednesday.
Agra Asigurari has been the only agricultural insurer in Romania since 2016. The company offers complete solutions for the prevention and management of climate risks and provides farmers with customer tailored products.
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