Agroseguro denies eliminating virus coverage from insurance for greenhouse crops

Agroseguro has issued a statement denying the claims made by Asaja and COAG about the alleged elimination of virus coverage in the insurance for protected cultivation of vegetable crops in the 2024 Plan. In recent years, the insurer stated, adjustments have been made to the insurance line of these crops to mitigate the existing imbalance, especially regarding the risk of virosis. This risk has shown a loss ratio of 182% over the premium collected in the last four years, as the claims amounted to 13.3 million euros and the risk premium to 7.3 million euros.

Agroseguro stressed that the measures adopted for the 2024 Plan won’t affect policyholders who have had good results, as the conditions of their coverage won’t change. The adjustments have been specifically aimed at producers with repeated and high claims, and new policyholders with a more negative behavior. In particular, policyholders who took out their policy for the first time in the 2022 Plan and recorded claims, had a claim ratio of 1,065% for the risk of virus infection. Agroseguro clarified that the coverage of viruses was not eliminated, but that they had established lower maximum limits of compensable damages, which could later increase as insurance results improve.

The insurer stressed that these adjustments were needed to preserve the technical balance of the Spanish Combined Agricultural Insurance system, especially in the current context of climate change and high accident rates.


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