"Only 20% to 30% of climate-related risks are insured" (C. Hansen, Commissioner for Agriculture)

"In 2024, climate events - droughts and floods - directly caused the deaths of hundreds of people in Europe, particularly during the floods in Valencia, an event on a scale never before seen.
Climate change, and particularly droughts, is generating annual losses of €28 billion for the agricultural sector, both in terms of damages and yield losses: this figure could rise to €45 billion per year by 2050, given current trends in global warming and its consequences.
Only 20-30% of these losses in the agricultural sector are currently covered by public, private or mixed insurance (including the schemes provided for in the CAP).

The European Union has a budget of €450 million for these crises (the agricultural reserve), and this is clearly not enough. There is an urgent need to mobilise private funds, particularly from the banking and insurance sectors, to work together to find new ways of covering emerging risks and guaranteeing farmers' incomes. We had announced the involvement of banks and insurance companies in the Vision for Agriculture and Food, and this survey, carried out by the…