Farmers constitute a significant percentage of customers of cooperative banks. We’ve had a wave of frosts in recent weeks. What will be the impact of these frosts on plants and are farmers already reporting damage?
Agricultural crop insurance is extremely important for InterRisk. We are fully aware that one damage to large acreage of cultivation can seriously disturb a farmer’s financial liquidity. Therefore, farmers and owners of farms can count on full insurance coverage in InterRisk. We respond to the needs related to, inter alia, weather anomalies, the increasing number of damages, but also the possibility of using state subsidies in the amount of 65% of the premium for insuring basic agricultural crops.
Currently, farmers insurance report damage mainly to winter oilseed rape. Our experts are already in the field and assess the condition of crops related to damage caused by spring frosts. At the moment it is too early to estimate the yield losses. It also depends on the region of Poland, as well as on the development phase of crops at the time of frosts. So the damage will vary depending on the terrain.
Until now, we had identified risks in the crops that had an impact on the yield. We were able to manage them properly. Now a new factor has arrived – the coronavirus. What to advise a farmer who has incurred costs for sowing and agrotechnical and is wondering how to properly insure his crops against weather and epidemic effects?
Coronavirus – as a pathogen – is not a risk that is subject to crop insurance. The costs of sowing and agrotechnical treatments constitute the vast majority of costs related to agricultural crops. In order not to lose these expenses irretrievably, we encourage farmers to insure agricultural crops, in particular in selected packages. Thanks to this, they will be sure that our company will bear the damage caused by weather risks. The larger the cultivation area, the more dangerous the risk becomes and may affect the financial liquidity of the farm.
It should be remembered here that in compulsory insurance of agricultural crops, the greater part of the premium (up to 65%) is subsidized by the state budget, so the farmer pays only the remaining 35%.
InterRisk has been insuring crops for 3 years. How many hectares of crops did he insure in 2019 and what were the most common reasons for the payment of compensation?
Our company is one of the seven insurers of agricultural crops with a subsidy from the state budget. We provide insurance protection throughout the country. We strive for comprehensive insurance for the agricultural sector and this was the basis for the decision to offer insurance for agricultural crops.
In 2019, our insurance covered a total of 120,000 hectares of crops. The most common causes of damage to crops were spring frosts, occurring in April and May, and hail, which occurred at the turn of June and July.
What variants of crop insurance does InterRisk offer in the spring? Did you make sure that the insurance did not require direct contact with the client?
In the spring season, farmers insure their crops against hail, spring frost, hurricanes, torrential rain, avalanche, lightning, and landslides.
During the epidemic, we reacted adequately to the situation. We immediately prepared and implemented a policy sales system that does not require direct contact with the client. In the first step, we agree on the scope of insurance with the client, then we send the offer with the terms of the insurance by e-mail. After its acceptance by the customer, we send the policy along with other documents.
What are the farmer’s options for reporting the damage? What is the process of liquidating damage to crops?
When the damage occurs, the farmer may report the damage via the website or by phone. Each reported damage is inspected mostly by a two-person team of InterRisk agricultural exports in the presence of the crop owner or his representative. During the visual inspection, the amount of loss in the yield is determined as a result of the damage. The liquidation process ends with a decision regarding the payment of compensation. The method of determining the amount of compensation is presented in the decision concluding the liquidation proceedings.
Why should cooperative banks pay attention to the InterRisk offer for their clients?
When constructing the terms of cooperation, we take into account that both cooperative banks and InterRisk address their offer to the same recipient – a farmer and entrepreneurs from the agricultural sector.
A special Agro Package protects the farm in the event of a fire and other random events. What’s more, protection may also apply to valuable equipment or household goods. The Agrocasco package provides the farmer with quick payment of compensation in the event of damage to agricultural machinery and equipment. The scope of protection may be extended to include the diagnosis of diseases such as Lyme disease or rabies. In addition, people close to the farmer can benefit from protection. Customers can also choose legal protection or private life insurance.
What, apart from the aforementioned products, can you offer our client?
We strongly recommend that you protect your property, i.e. your home and car. We offer Dom Max insurance. It is a product of the so-called all risk, which means that it guarantees broad insurance protection. When it comes to securing the car, we recommend the Auto + Package, which was awarded the silver Quality Emblem last year.
The farmer’s family cannot be forgotten. EDU Plus Personal Accident Insurance, which protects the child all year round, regardless of where he or she is. It is a product modified every year to best match the needs of our customers. For several years now, as an additional option, you can buy Telemedicine, i.e. consultations with an internist, paediatrician, or dietary advice by phone or chat.
