MABISZ: this year’s agricultural damage is estimated at ten billion forints

By: Trademagazin editor Date: 2021. 11. 15. 11:20

By the end of October, insurers had paid about 10 billion HUF in plant damage, mainly due to hail. In the meantime, the Ministry of Agriculture has further increased the budget for subsidized agricultural insurance, so farmers have a good chance to take advantage of the 70% aid intensity, according to a statement issued by the Association of Hungarian Insurers (MABISZ) on Monday.

Agricultural damage reached tens billion HUF

By the end of October this year, more than seven thousand plant insurance claims were received by the companies, and the amount of claims paid and reserved is at 10 billion HUF. Of this, almost 8 billion HUF was to be reimbursed following the reporting of more than 4,500 ice damages, but drought damage (800 million HUF) and spring frost damage (approximately 400 million HUF) were also significant. (MTI)