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System basics

Traducir al español - Translate to spanish

The current Spanish Combined Agricultural Insurance System was established in 1978 with a dual purpose. On the one hand, to provide financially viable technical cover which allows the agricultural sector to cope with the severe damage caused to production by uncontrollable and unpredictable risks that have catastrophic consequences. And on the other, to provide the Government with an effective instrument that helps to develop a rational agricultural policy for the agricultural sector.

The Spanish agricultural insurance system is a set of principles and rules systematically aimed at establishing and developing "Agricultural Insurance". It is based on the joint participation of public and private institutions and the voluntary participation of both insurers and agriculture and livestock producers.

In this sense, it is based on private contracts in which one party - the insurer - agrees to cover certain risks which the other party - the insured - wishes to protect, by paying a price established by the insurer according to the characteristics of this activity. The producer receives a (State and Regional) subsidy to pay that price.

Regarding subsidies for agricultural insurance premiums, it is important to note that these subsidies are given to each producer to underwrite their insurance policy. In order to make the system more efficient and the process more agile, Agroseguro manages the subsidy on behalf of the producer, so that the producer only pays his part of the premium after deducting the subsidy; Agroseguro then applies for the remaining amount needed to complete the total cost of the insurance from the State (ENESA) and the Autonomous Regions.

Currently, agricultural, livestock, forestry and aquaculture production are covered against most of the climate risks that may affect them.