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Agroseguro: functions and structure

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Agroseguro is responsible for the management of agricultural insurance in the name and on behalf of insurance companies that are part of the co-insurance pool. It is not, therefore, an insurance company, but a management entity.

The purpose of the Company is to manage, on behalf of the shareholder insurers, everything related to combined agricultural insurance.

Following that objective, its main activities include managing and processing insurance policies, issuance and collection of receipts to and from policyholders, as well as receiving claim statements from insured parties and carrying out adjustment procedures, assessment and payment of claims on behalf of the Co-insurers.

It also conducts statistical studies and actuarial research regarding the establishment of tariffs that apply to the different lines of insurance, as well as managing payment of premiums for the reinsurance cover provided by the Insurance Compensation Consortium, and the collection of subsidies payable by the National Agency for Agricultural Insurance and the different Autonomous Communities.

The Company also manages the reinsurance not covered by the aforementioned institution, through Reinsurance Companies in the international market, who are paid and billed accordingly on behalf of those co-insurers who wish to join this reinsurance programme.

Agroseguro also has a Department of Consultancy and International Relationships whose main purpose is to provide technical assistance and expertise to other countries in the implementation and management of agricultural insurance.

Finally, the Company carries out additional work complementary to agricultural insurance, such as the assessment and verification of crops, crop damage due to causes other than those covered by the insurance, etc., commissioned by the Public Administration.

Agroseguro has one central delegation and eleven regional branches covering the entire country.