According to Polish Re, in Russia have appeared the experience of contracts of agricultural insurance in which the insurance object is not the cost of production and the income of the household from the harvest. This approach aims to take into account not only material losses, but also financial risks associated with price fluctuations.
"Price risks are for Russian farmers in second place after climate – said the President of the National Union of agricultural insurers the Roots of biggov. In particular, the inclusion of insurance income in the system of agricultural insurance with state support were discussed in the preparation of changes in the relevant laws and regulations in 2018 in the agricultural Committee of the state Duma. But this question requires serious consideration".
Polish Re company assumes in reinsurance of agricultural risks not only on the Polish market, but also from 17 countries of Europe, Asia and Africa, including Russia. Based on this experience, the representative of the reinsurer presented at a round table summarizing the major trends in global agricultural insurance. According to Conrad Raevski, hail insurance is gradually replaced by writing multiple peril crop insurance crops, with the inclusion of drought risk, the protection of which a particularly interested state bodies. This extends the use of satellite data. He also drew attention to the fact that in the EU and in the world in agricultural insurance dominated the segment's risk insurance crop, though, assuming the share of livestock in GDP of the agricultural sector, the risks of this sector should account for 40% of the volume of the market. The concentration of livestock business, the spread of dangerous diseases deduce the need for insurance of such risks to the forefront, while important is also the risk of a break in production, says Conrad Raevski.
Round table "agricultural Insurance as a risk management tool for agriculture. Prospects of development" was organized by ECA in the framework of the XVII International conference on insurance of the Russian Union of insurers of St.-Petersburg. The event was held July 3 in the building of the State Hermitage. It was attended by the heads of the establishments of agricultural insurance with state support, representatives of insurance and reinsurance companies, industry associations agribusiness, agricultural science from Russia, France, Spain, Italy, Poland, Belarus, and Kazakhstan.
Translated by service "Yandex.Translation"