Mabisz’s support for agricultural insurance premiums increased by 2 billion HUF

By: Trademagazin editor Date: 2020. 08. 13. 11:35

The amount of support for agricultural insurance premiums has increased from 5 billion HUF to 7 billion HUF, increasing the maximum amount of support from the previous 65 percent to 70 percent of the total eligible costs – the Hungarian Insurance Association (Mabisz) pointed out in a statement sent to MTI on Thursday.

It is recalled that the premium-subsidized agricultural insurance system has been operating since 2012, when the total portfolio premium of subsidized agricultural insurance remained below 1.5 billion HUF, and this year it is expected to reach 13 billion HUF.

Farmers could apply for agricultural insurance premium support between 6 April and 15 May this year, after which, in case of applications submitted by 9 June, the amount of support will be reduced by 1 percent per working day. (MTI)