Bad weather conditions push claims ratio over 90% in the agricultural insurance segment
The effect of worsening weather conditions in 2007 produced considerable damage
in the agricultural sector, reaching RON 48.3 million, while revenues in the
same period reached RON 53.7 million.
This results in a claims ratio of 90%,
although some companies had claims surpassing 200%. The Government also paid
compensations for some of the individual producers according to Law no.381/2002.
"2007 is a non-typical year when it comes to weather. There were very low,
near freezing temperatures in late spring that damaged trees, vineyards, and
vegetables and between May and September were characterized by draught, torrential
rain with hail and thunderstorm and, in some areas, by flooding. This caused
large areas with crops to be completely destroyed", Anghel BURGHILA, Manager
of Agricultural Insurance Department for EUROINS Romania, stated.
Author: Andreea IONETE
on 24.07.2008
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