Agroseguro has held this Wednesday, May 26, a day of presentation of the 'Plan 2021 of livestock insurance', which comes into force on June 1 and includes 12 livestock and 3 aquaculture lines. The meeting, held telematically, was attended by more than 380 participants from insurance companies and their commercial networks.
At the beginning of the meeting, it has been emphasized that "the livestock lines account for 24% of the agricultural insurance system", and it has been highlighted that the 20% increase in the annual budget has allowed incorporating subsidies for surcharges and increasing the support received by young farmers. In addition, the 42nd Agrarian Insurance Plan includes additional aid for the insurance of compensation for loss of pasture, aquaculture lines and provides for an increase in the base subsidy in the Canary Islands.
Figures were presented for the current plan, which is scheduled to close on May 31 and has more than 157,000 policies underwritten, providing coverage for more than 312 million animals, 5.4% more than in 2019, and an insured capital of €3,468 million.
The line of insurance for breeding and production cattle accounts for 50% of the insured capital, and will close with a 1.7% growth in the number of insured animals. In addition, there has been a notable growth in the insurance of poultry for meat or laying hens in the last year. In the case of swine, although insurance is not as widespread among Spanish farms, insurance is growing by 5.7% and now exceeds 529,000 insured animals.
The agricultural insurance line that covers the expenses derived from the removal and destruction of dead animals on the farm has grown by 3.1% last year, reaching 243 million specimens. Regarding this line, the 'Plan 2021' has added new intermediate bonus strata with the aim of avoiding serious increases in the cost of the policy for those farms that close the previous year with an increase in claims.
News Source: Adn del Seguro 27/05/21