Hungary: This year's agricultural damage is at ten billion forints
Hungary
Published Nov 16, 2021
Tridge summary
By the end of October, insurers had paid about HUF 10 billion in plant damage, mainly due to hail. In the meantime, the Ministry of Agriculture has further increased the budget for subsidized agricultural insurance, so farmers have a good chance to take advantage of the 70% aid intensity, according to a statement issued by the Association of Hungarian Insurers (MABISZ) on Monday.
Original content
Agricultural damage has reached the 10 billion mark By the end of October this year, more than seven thousand plant insurance claims were received by the companies, and the amount of claims paid and reserved is at HUF 10 billion. Of this, almost HUF 8 billion was to be reimbursed following the announcement of more than 4,500 ice damages, but drought damage (HUF 800 million) and spring frost damage (approximately HUF 400 million) were also significant. Of the crops insured, winter oilseed rape, maize, sunflower, cereals, orchards and vegetables suffered the most from the weather. Territorially, most applications came from the Great Plain, Southern Transdanubia, Borsod-Abaúj-Zemplén County, Szentlőrinc and Baksa in Baranya, and Kecel in Bács-Kiskun County, MABISZ explained. Insurers, meanwhile, are aggregating data and payments these days that will allow farmers to get back up to seventy percent of the premium for their subsidized crop insurance policy taken out this year. The ...
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