Insurance applications for the damage caused to the crops

According to the data compiled by the insurance joint-stock company “BTA Baltic Insurance Company” (BTA), applications for insurance indemnities in the amount of 4 million EUR have been submitted by the beginning of August this year due to damage caused by various adverse weather conditions, including storms, rain and hail.
“This year we have repeatedly experienced hail and strong winds, which adversely affected the crops. In many places, the crops lodged, there was also other damage, for which insurance claims have been submitted in the total amount of 4 million EUR. Of course, there are regional differences, but the total amount of claims submitted was really impressive compared to the previous year, when the total amount of insurance claims for crops damage reached 2.6 million EUR,” comments Karlis Liepins, Director of BTA Insurance Claims Department. The new harvest is seriously threatened by a variety of unforeseeable natural disasters, including drought and lodged crops, especially winter wheat. Many insurance claims are also filed for damage caused by wild animals. The experience of recent years shows that various natural disasters are becoming an increasing threat to the harvest, but given that farmers have the opportunity to insure crops against adverse climatic conditions and also receive funding from the European Union and the state budget, the Ministry of Agriculture has not provided for compensation from the state budget this year, thus moving the crop protection culture towards insurance.

Information source: