BUSINESS

Groupama agricultural insurance to cover also drought risk as of this autumn

Groupama Insurance, the leader of agricultural insurance in Romania, will add, as of this autumn, the coverage of a new risk to the policy for crops – drought, which is one of the most important risks facing Romanian farmers, according to a company’s release.
Agricultural crop insurance covers risks such as those related to hail, fire, storm, hurricane, torrential rain, late spring frost, early autumn frost and winter frost.
According to a study by Groupama Insurance, 95pct of interviewed farmers have identified drought as the climatic phenomenon that has the biggest impact on their businesses.
With over 700,000 ha of farmland insured in the agricultural year 2014 – 2015 and over 2,500 farming customers, Groupama Insurance recorded last year a 41pct increase in agricultural insurance line. The development of this line of business is backed also by the French experience of over 100 years in agriculture.
Groupama Insurance is one of the leaders of the insurance market in Romania, with a portfolio of over 1.1 million individual customers and 67,000 companies.

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