According to the National Union of Agricultural Insurers (NUA), the size of insured areas in the country by the beginning of October amounted to 7,5 million hectares. This is 73% more than in 9 months of 2022.
As noted by the NSA, the emergency insurance program is very popular among agricultural producers. Last season, 1,5 million hectares were insured under it, and this year a double increase was recorded - up to 3 million hectares. In addition, the areas insured under the multi-risk protection program increased by 58%: from 2,9 million to 4,6 million hectares.
The NSA believes that the demand for insurance in the agricultural sector is growing, including due to the implementation by the Ministry of Agriculture of the Russian Federation of a set of measures that encourage agricultural producers to use insurance instruments to protect against the risks of natural disasters.
As NSA previously reported, in 2023, Russian farmers insured more than 10% of sown areas for the first time. The Omsk, Voronezh and Rostov regions, as well as the Krasnodar and Stavropol territories were among the leaders in terms of insurance volumes.
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