Agricultural policies, insured values up to 10.3 billion
Under the umbrella of the companies fewer but on average larger companies. In the North still almost 80% of the subsidised insurance market
by E.Sg.
2' min read
2' min read
An all-time high for the agricultural insurance market, which is growing both in terms of insured values and premiums paid, but the number of insured farms (which are, however, of a higher average size) is falling.
According to the "Report on risk management in agriculture 2024" by Ismea, the set of subsidised policies, financed with EU and national contributions, the insured value in 2023 amounts to 10.3 billion euros, up 2.2% on an annual basis. Driving the market is the vegetable crops sector, with €7.5 billion of gross saleable production insured, up by 4.1% compared to 2022. A figure that, notes Ismea, "offsets the downward variations recorded in the values expressed by livestock farming (-1.5%) and policies on farm structures (-3.6%)".
Costs fell: 'the average tariff in the vegetable sector, which accounts for almost three quarters of the total insured values, posted a year-on-year 0.33 percentage point downward correction to 9.34% for the first time since 2016, following a year, 2022, with an improved claims ratio,' the report said.
