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Republic of Moldova


MOLDOVA: the number of premiums under agricultural risk insurance contracts in the first half of 2022 increased by 40%

In Moldova, the number of premiums collected by insurance companies under agricultural risk insurance contracts in the first half of 2022 increased by more than 40% compared to the same period last year, east-fruit.com wrote.

The specialists note that the positive dynamics was ensured not by an increase in the number of contracts with agricultural producers, but by an increase in insurance amounts and premiums collected under a small number of large insurance contracts.

Insurance brokers also note that paid claims for insured events of some insurance companies have significantly increased compared to last year. These are mainly fruit crop losses due to two frost waves at the end of the second decade of April in the north of Moldova.

Representatives of insurers give a modest forecast for the insurance of orchards and vineyards in the second half of 2022, and the reason is not only the Russian embargo on the supply of crop products from Moldova, but that it is the second agricultural season in the country when the insurance process is different - a large share of contracts with gardeners and winegrowers is concluded in the spring, while in the fall, insured farmers mainly try to receive compensation for their damages.

Author: Marina MAGNAVAL on 13.09.2022

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