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Interview of the week

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Fanel PLOPEANU, General Manager, FATA Asigurari


Insurance companies who are present in the agricultural insurance segment perceived 2006-2007 as a warning to take action on an economical and technical level. It seems that global warming is making its presence felt in our country. We are facing unusual weather phenomenon for Romania which are more frequent and more aggressive.

XPRIMM: How did agricultural insurers react to the year 2007? What is the estimated claims ratio for this segment between 2006 and 2007?
Fanel PLOPEANU:
Insurance companies who are present in the agricultural insurance segment perceived 2006-2007 as a warning to take action on an economical and technical level. It seems that global warming is making its presence felt in our country. We are facing unusual weather phenomenon for Romania which are more frequent and more aggressive. Having this in mind, the claims ratio (crops and livestock) for 2007 climbed to 100-200%. That is why insurers have to take measures to cover the costs of these risks.

XPRIMM: What is your opinion on the proposition from the Minister of Agriculture regarding the cover for draught and floods through insurance?
F.P.:
We believe that this measure is premature for Romania. Considering that the notion of insurance in our country is relatively new in comparison to other countries, companies do not have the reserves and the financial strength to cover catastrophic risks.

XPRIMM: Which are the modifications you think are required on a legal level so agricultural insurance to be stimulated?
F.P.:
First of all, the 50% subvention for insurance premiums should be reintroduced, together with widening the list of crops and animals that will benefit from this. Private producers don't have the possibility to cover the insurance at their own expense like the ones from more developed countries do.
On the other hand, insurers must reanalyze how premiums will grow according to the specific risks, the use of the "malus" system and introducing new types of insurance to cover all their needs.
The Committee for Agriculture of UNSAR, with the participation of MAPDR can start debates to establish a plan for this situation.
If the appropriate measures are not taken, this type of insurance will disappear because will prove not to be profitable and investors will drop agricultural insurance.

XPRIMM: What do you think about the potential of this segment?
F.P.:
The potential as an area is large, 70-80% of the crops and livestock. Presently, only 15-20% of the surface is covered but as far as and some animal farms are concerned insurance is insignificant and also improfitable.


Editor: Mihaela CIRCU | Published on 14.08.2008






















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