Recent weather events have put many farmers in difficulty, highlighting the importance of having adequate tools to protect their income. To address these challenges, there are two main insurance guarantees: those against excess rain and those against floods, in addition to the AgriCAT flood fund.
«Protecting the income of our farmers is our priority – says President Gianmaria Sfolcini –. With guarantees for excess rain and floods, including coverage from the national AgriCAT fund, our commitment is to support agricultural companies in times of difficulty, offering the most effective tools to manage risks.”
Numerous complaints have been received and the offices are working to manage complaints from members to allow them to face the challenges posed by climate change with greater serenity. An analysis of meteorological data from recent weeks reveals that in places such as Alseno, Cadeo, San Pietro in Cerro, Caorso, Carpaneto, Castelvetro, Cortemaggiore, Fiorenzuola and Villanova, the average precipitation accumulation has increased from 200% to over 300%, with peaks exceeding 161 millimeters over 10 days. This exceptional event therefore affected numerous municipalities distributed throughout the provincial territory. How do insurable guarantees work?
The “Excess Rain” Guarantee
This warranty is especially relevant for those who have suffered damage due to recent rainfall. If included in your insurance policy, the guarantee is activated upon the occurrence of specific conditions:
– An excess of water availability in the soil due to rainfall that exceeds the average of the reference period by 50%, with at least 80 millimeters of rain in ten days.
– Very intense rainfall, equal to at least 80 millimeters in 72 hours.
– Torrential rain, known as cloudbursts, with at least 30 millimeters of rain in one hour or 40 millimeters in three hours.
This coverage is particularly useful for preventing significant damage such as rotting of agricultural products and root asphyxiation. Rotting occurs when crops, exposed to excessive humidity, begin to decompose, thus compromising the quality and saleability of the products. Root asphyxia, on the other hand, is caused by excess water in the soil which deprives the roots of the necessary oxygen, leading to the death of the plants. Generally, insurance companies apply a 30% deductible and a 50% indemnity limit. This means that, for example, for a 90% loss, the compensation will be equal to 50% of the insured value.
The “Flood” guarantee
This warranty can be included in your coverage package for catastrophe events, such as frost, frost, flood and drought. It is activated in the event of exceptional weather events, such as the flooding of rivers or lakes, which cause inundation of the surrounding areas with the transport and deposition of solid materials. Also for this guarantee, there is a deductible of 30% and an indemnity limit of 50%. For example, in the event of a 90% loss, the compensation will be 50% of the insured value.
Protect yourself with AgriCAT
Since 2023, the AgriCAT fund has been operational for all companies receiving CAP contributions, offering coverage against catastrophic adversities such as frost, frost, flood and drought. The conditions for activating the flood guarantee are the same as described previously.
For permanent, horticultural and nursery crops, the deductible is 30% and the compensation limit is 40%. For arable land and other crops, the deductible is 20% and the compensation limit is 35%. The quantification of the damage is real for those who do not have a flood policy, while for those who are insured, the percentage verified by the expert applies.
«We understand the difficulties that recent meteorological events have caused our farmers – says director Cavanna -. The guarantees with which we can protect ourselves are fundamental to protecting the income of our members, guaranteeing adequate and timely compensation.”
