The Impact of Climate Change on Agrarian Insurance: A Look at the Spanish Reality
Climate change is redefining many aspects of daily life and the economy, with one of its most notorious effects being the increase in the contracting of agricultural insurance. According to a recent study by the Institute for Climate Impact Research in Potsdam, published in the journal Nature, Spain is emerging as one of the European countries most affected by this phenomenon, especially in the field of agriculture.
Increased Temperatures and Agricultural Productivity
The increase in average temperatures not only affects general well-being, but also has a direct and severe impact on agricultural productivity. This climate change is driving farmers to seek greater economic coverage to protect themselves from possible losses derived from inclement weather. In the face of events such as droughts, hailstorms or strong winds, agricultural insurance is a vital solution.
In addition, the impact of climate change on agriculture has led to the updating of the Agricultural Insurance Plan 2025The company’s new program, which introduces improvements in coverage and greater accessibility to producers, reflects a continued commitment to the stability of the sector. This reflects a continued commitment to the stability of the sector.
Trends in the Valencian Community
In the Comunitat Valenciana, the contracting of agricultural insurance has seen significant growth. Traditionally reticent, Valencian farmers are beginning to insure their crops against unforeseen risks more than ever. Data from Agroseguro and the National Statistics Institute (INE) reveal that in this region 27,536 policies were registered with an insured capital of 1,224 million euros, placing it in a prominent position nationally.
Agroseguro’s role in 2023
Agroseguro, a leading entity in the sector, reported a 7% increase in the number of policies contracted during 2023, reaching an all-time high of 1,011 million euros in premiums. 1,241 million, affecting approximately 58% of the total insured. However, thanks to Agroseguro’s support, indemnities remained below 30 days on average.
Coverage and Subsidies for 2025
With the arrival of 2025, the 2025 Agrarian Insurance Plan has included improvements in the agricultural insurance coverageThe new plant will provide greater protection against extreme weather events. In addition, the 2025 agricultural insurance subsidies provide significant financial support to producers seeking to mitigate the effects of weather on their crops.
Future Prospects and Government Support
Looking ahead, citrus insurance for 2024 has already opened its contracting period, with significant improvements in coverage and policy management. This type of initiative is essential for the stability of growers, especially in areas prone to natural disasters.
The support of the regional and state government has been fundamental. In the last campaign, more than 16 million euros were allocated to subsidies for the insurance premium in the Valencian Community, reflecting a solid commitment to the protection and livelihood of farmers. In addition, the government subsidies for agricultural insurance continue to evolve continue to evolve, facilitating access to more comprehensive and affordable policies.
The increase in the contracting of agricultural insurance in Spain is a logical and necessary response to the challenges imposed by climate change. This joint effort between farmers, insurance companies and governments not only helps to mitigate the effects of climatic adversities, but also ensures the continuity and development of one of the country’s most vital industries.
