Allegrini 2018

Wine grapes, 2 billion euros of insured value in 2021 (+ 4.7% on 2020)

“Report on risk management in agriculture” by Ismea: policies in the primary sector of € 8.9 billion. The South is growing
The frost damage in the vineyard

The policies on vegetable crops, company structures and livestock production register a new record in terms of insured values: € 8.9 billion in 2021 (+ 5% on 2020), with wine grapes – which is the most profitable crop and has a greater predisposition to exports, which every year must deal with frosts and hailstorms - they represent by far the most important item, with 2 billion euros of insured values (+ 4.7%). This was stated by the “Report on risk management in agriculture” 2022 by Ismea.
In the vegetable crops segment, which, with € 6.5 billion (+ 4.4%), concentrates almost three-quarters of the insurance portfolio, there is a further strengthening of the participation of the South, confirming the gradual overcoming of the territorial gap that characterizes the market for agricultural policies against atmospheric risks, historically unbalanced on the northern regions. The latest figures attribute a still predominant market share to Northern Italy, equal to 80%, but the South has risen from 7% five years ago to 12.2%, compared to 7.8% in the Center.

At the end of the 2014-2022 CAP programming, however, there are still significant margins for improvement, especially in terms of extension of coverage against catastrophe risks, on which the system seems, on the contrary, to show a gradual disengagement that could lead to jeopardizing the resilience of farms in the medium to long term in the face of increasingly intense extreme events. In relation to insurance costs, premiums, in absolute terms, reached a peak of 610.8 million euros last year, corresponding to an average national rate which, for the second consecutive year, remained above the threshold of 9%, with a nominal 4.4% increase compared to 2020 and a plus 2.5% in real terms (net of inflation).
2021 was also the year of mutual funds consolidation, with the recognition by the Ministry of Agriculture of five plant disease and climate funds and IST funds (income stabilization tool) in the milk, apple and fruit and vegetable sectors (the preliminary investigation is led for three new Ist milk, rice and sugar beet funds). In the 2023-2027 Multi-Year Strategic Plan, Italy also planned the establishment (first case in Europe) of a National Catastrophe Mutual Fund against frost, drought and flood losses, intended for the entire group of Italian companies, as a complementary tool and in synergy with insurance companies for the strengthening and sectoral and territorial rebalancing in the distribution of subsidized policies.

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