News

In flood-affected regions, the share of insured lands is small - NSA

Russia
Sustainability & Environmental Impact
Innovation & Technology
Published Apr 20, 2024

Tridge summary

In various regions of Russia, including the Kurgan, Orenburg, Tyumen regions, the Altai Territory, and Chuvashia, farmers are facing significant losses due to the flooding of winter crops, with only 5-9% of these crops being insured. The Orenburg region, in particular, has seen extensive damage to winter grain and greenhouse vegetable crops, with the lowest insurance coverage at 5%. Despite the low rates of insurance, some farmers have opted for regular emergency and multi-risk crop insurance programs to mitigate losses. Nationally, 30% of winter crops are insured, with 11% under regular emergency insurance. The flooding has also impacted livestock farms, necessitating the evacuation and potential forced slaughter of animals. The National Union of Agricultural Insurers (NAA) highlights these challenges, underscoring the need for broader insurance coverage to protect against such disasters.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The area of insured crops in flood-affected regions is only about five to nine percent. This was reported by field.rf with reference to data from the National Union of Agricultural Insurers (NAA). The organization recalled that now a state of emergency due to this disaster has been introduced in the Kurgan, Orenburg and Tyumen regions and the Altai Territory, and in Chuvashia a state of emergency has been declared due to the death of winter crops. They also noted that due to such a low level of acreage insurance, farmers may face serious losses in the near future. For example, in the Orenburg region, 6.1 thousand hectares of winter grain crops and 6.5 thousand hectares of greenhouse vegetable crops (greenhouses) were flooded. According to the union, crops are least insured in the Orenburg region - five percent of the total sown area or 44 thousand hectares. However, farmers still showed awareness by immediately insuring themselves not only under the regular emergency program, but ...
Source: Rosng
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