Agroseguro has already paid 64 million euros to fruit tree growers for losses recorded in the current campaign
Agricultural insurance contracting achieves record-breaking first half with historic premiums and insured capital
09/07/2024
Agroseguro starts compensation payments for vineyard losses with an initial amount of 64 million euros
03/10/2024• Compensation payments are being processed at a good pace, with a final forecast of over 90 million euros.
• Of the total, more than 60 million corresponds to damage caused by hail storms and at least another 23 million to frost and poor fruit set.
The payment of compensation to fruit tree growers for losses recorded in the current campaign is progressing at a good pace, with 64 million euros already paid by Agroseguro in the last few weeks. With the final damage appraisals for late season crops still to be finalised, the total forecast stands at over 90 million.
In total, the area of fruit trees damaged exceeds 30,000 hectares insured, with a particular incidence of damage caused by the hail storms between May and August, which affected more than 16,000 hectares and whose compensation will exceed 60 million euros. This was followed by frost damage and poor fruit set, which accounted for a further 23 million euros in compensation. The remainder, up to the total, results from claims caused by other risks covered, such as rain, flooding, wind or damage caused by fauna, as well as damage to installations or seedlings.
By autonomous region, fruit growers in Murcia have already received compensation worth 29 million euros in the last few weeks, with a total estimate that could be close to 35 million by the end of the campaign, most of it for damage to peaches and apricots caused by the storms in June. The final figure could increase slightly because of damage to wood caused by heavy hail, particularly to farms in Ojos and nearby municipalities.
In Catalonia, the frost in April and the constant hail storms in July and August will increase compensation to 17 million euros, most of which corresponds to peach, apple and pear growers in Lleida, the main fruit-growing area. The losses recorded in Extremadura as a result of frost and atmospheric instability during the spring also represent significant compensation, with damage exceeding 16 million euros, mainly to plums and peaches. In both regions, more than half of the compensation has already been paid.
In Aragon, compensation payments have already exceeded 6.2 million and will close at more than 10 million by the end of the campaign, with a particular incidence of damage in Zaragoza and Huesca, mainly due to the hail storms that fell heavily at the end of June and beginning of July.
The remaining compensation, most of which has already been paid, relates to fruit growers in Castilla-La Mancha (6.5 million), La Rioja (3 million), Navarre (2 million) Andalusia (1.8 million), Valencia region (1.6 million) and Castilla y León (1 million).
