Agricultural Insurance | Crop Insurance
Agricultural insurance was born with the mission of covering the protection of certain risks that have to do with the agricultural industry, especially the weather.
Generally it focuses on protecting farms provided they can be controlled by human action.
Agricultural insurance; a little history
Agricultural insurance born in 1919, with domestic mutual agricultural insurance in Spain.
This was intended to cover all risks of the field, but eventually ended up focusing specifically on hail. However, this mutuality had many claims to be faced because they were much higher premiums whereas the State came to the aid Two years later.
In 1929 it became mutuality Commissioner of Insurance of the field, who the following year became agricultural insurance service that is dedicated to act as reinsurance fund and compensation. In this entity offered to private insurance companies to insure against hail, fire and livestock mortality.
But the consolidation of agricultural insurance was in 1954 due to the demand for agricultural insurance that is able to protect multiple risks. For the 70’s there was another favorable significant change in the national agricultural insurance where national co-insurers entities They joined with insurers to manage a combined policy to provide coverage against fire and hail cereals.
Agricultural insurance are those who aims to protect farms facing risks that are arising from climate adversities and other natural risks when it is impossible to control. Agricultural insurance may be applied to agricultural, forestry, livestock and aquaculture sectors.
General coverage of agricultural insurance
Within the general criterion agricultural insurance cover damage from abnormal variations of natural agents outweighed by the means that are used for preventive control.
- In agriculture, fires, hail, floods, persistent rains, hurricane winds, excessive moisture, pests or diseases that are uncontrollable by the farmer covers.
- In livestock death by accident or animal disease is covered, the loss of functions, the removal of dead farm animals.In addition to covering some animal diseases such as tuberculosis foot and mouth disease and drought on farms.
- Forest, also have started the fire to cover agricultural land reforested and cork.Commonly known as Montes.
Types of insurance
- Combined agricultural insurance
This is insurance which covers damage within the insured risks according to the location of the holding, the species being cultured and others. Some of the coverage that has this mode is frost, rain, snow, hail and others.
- Insurance yields
It is those agricultural insurance covering any loss of income that can be produced by various adverse weather conditions, which cannot be controlled by the farmer. In addition to drought and frost.
- Comprehensive Insurance
As income insurance, insurance is those where the loss of production can not be controlled by the farmer and the company still try to cover those losses from fires, droughts, hail and others.
- Livestock Insurance
Within this type of insurance guarantees farmers repair damage cli8matologica nature or other exceptional events. You can cover accidents and animal diseases, drought damage in the field, cats due to the destruction of the dead, or to the compulsory slaughter of animals animals.
- Insurance aquaculture
This is insurance which are intended to cover risks that may affect marine species such as chemical pollution, lightning or floods in its territory.
Types of insurance
- Basic Multicultivo:is the traditional insurance policy which ensures a given output.
- Multicultivo risk:insurance is several ensuring multi-hazard protection of agricultural production.It aims to contribute to the universalization of protection in terms of insurable production since damages are assessed at the level of the farmer’s plot.
- In operation:it is a variation multi crop risk, but their difference is in the production protection in case of accidents by compensation results between insured crops and plots.
- Collective:it aims to make global coverage within a whole productive sector.
In livestock, the type of insurance that would correspond holding model. As for aquaculture and forestry are hired by the basic agricultural insurance policies.
2.0 Agricultural you sure?
It is the integration of technological systems with the insurer to report on the control and processing of returns risk, improved recovery of damaged systems and compliance with the conditions of insurance.
These teams are applied with precision agriculture to provide information on the ground, monitoring the jobs are done by heavy machinery, planting crops, abrupt climatic variations and other data that is provided by precision equipment supported by drones for geo location which helps a lot to the Underwriters.
Thus, with this integration, insurance companies could receive data when and where certain crops are grown, the activity taking place within the field and the number of square meters of land.