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January 18, 2021
BUSINESS

Groupama Asigurari indemnifies damages for agricultural crops caused by late spring frost

*Although this phenomenon is not a risk insured by the insurance companies in Romania

 

Groupama Asigurari, the leader on the segment of the agricultural insurances in Romania, registered an important number of reports of damages for agricultural crops, as a result of the negative temperatures at the end of April.

According to a press release issued by the company, approx. 6,000 hectares of the total area for which claims have been received, is located in Moldovan counties, while in the regions where the snow layer existed, the total area is of approx. 1,600 hectares. The insured people who included in their option the risk for late spring frost, if the snow fall/snow layer phenomenon happened, the company will indemnify people for possible damages caused by these snow falls/snow layer, although this phenomenon is not a risk insured by the insurance companies in Romania.

“It’s important to us to prove that the position of the leader on the agricultural insurances segment, obtained 5 years ago, is reliable for the long-term partnerships that we have built over the time with our clients who are farmers. Although the contractual terms do not cover the damages caused by snow falls/snow layer, we decided to support our clients for the policies covering the risk for late spring frost, by also covering these damages, so they will be able to continue their activities without being worried and in normal conditions. It is extremely important to us to support the farmers when such events occur, because, in the end, our profession, as insurers, is about people, continuity and respect of our business values – responsibility, solidarity, proximity and performance” stated Calin Matei, Deputy General Manager of Groupama Asigurari.

As for the affected crops, the highest claims referred to damages of the rapeseed, wheat and maize. The assessments made showed that part of the claimed damages were caused by cumulative risks, most frequent of them being the effect of the late spring frost, damages caused by storm and damages caused by the weight of the snow layer.

In addition, due to hail, torrential rain and storms from May 5 to 9, there were reports of damage to crops of rapeseed, barley, wheat, sunflower, maize, for an area of approximately 3000 hectares located in most counties of the country. According to the weather forecast for May and June, such violent phenomena will be very common.

Reaching t approx. 1 million hectares of agricultural crops insured in the 2015-2016 agricultural year, Groupama Asigurări has a portfolio of over 3,100 farm customers and provides them with a dedicated team of specialists in the agro damage area.

Groupama has its origins in mutualism, being created by French farmers in the early 19th century, and since then, it is the leader of this segment in France, with a tradition and experience of more than 100 years in the field of agriculture.

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