Agricultural policies, insuring crops worth 9.6 billion in 2024
Data illustrated by Ismea at Vinitaly: vineyards in first place. Values up 5% since pre Covid, but the effect of inflation must be considered
2' min read
2' min read
"In 2024 the insured values of vegetable crops exceeded 9.6 billion euros, registering a 5% increase compared to the 2019-2021 average, prior to the inflationary shock of the two-year period 2022-2023, and confirming the interest in agriculture towards risk management tools". This was announcedby Ismea in the Masaf area at Vinitaly. during the event "New tools and prospects for the prevention, defence and management of risks in the wine grape supply chain": an opportunity for discussion on the role of subsidised agricultural insurance, the innovations introduced with the Smart policy and the growing importance of the multidisciplinary approach at the basis of climate prevention, attended by Ismea President and Director Proietti and Marchi and Copa-Cogeca President Massimiliano Giansanti.
The average size of insured companies has grown by 19.8% since the beginning of the decade, a sign of more structured risk management and greater insurance awareness on the part of companies.
In the wine sector, which confirms itself as the most insured among crops, subsidised policies continue to show a strong territorial concentration: 77% of values are still localised in Northern Italy, with Veneto in the lead, both in terms of volumes and adhesion to insurance instruments. Among the most insured adverse events, the prevalence of recurring atmospheric events, technically catalogued among those of frequency, such as hail, excessive rain and strong wind, is confirmed.
One of the main innovations presented during the proceedings is theSmart policy, introduced as part of the 2025 Agriculture Risk Management Plan (Pgra): an innovative, simplified and low-cost formula, based on index values capable of remunerating the advance capital and on sample area surveys. This solution cuts insurance costs by more than 50% compared to traditional formulas and introduces compensation of up to 90% of the ascertained damage for farmers in Central and Southern Italy (80% for the North). There is also a 20% increase in the indemnity limit borne by the AgriCat National Mutual Fund for those who choose to adhere to the new policy.
