Insurance

Germany: Climate change causes crop damage

Extreme weather such as hail, drought or floods cause a loss of approximately 511 million euros a year in Germany. There are about 285,000 farms which can be affected by these extreme conditions. This can be seen in the "Agricultural multi-risk insurance" publication, presented by the German Insurance Association (GDV) in Berlin on the 7th of December. 

The aim of the publication is to draw attention to the competitive disadvantages of German farmers compared to their colleagues in other European countries. For comprehensive and affordable insurance against drought and floods, farmers need financial support from the state. This support is common in many other countries, but not in Germany.

The consequences of climate change also affect the level of risk for farmers. Droughts, late frosts or floods can cause damage that threatens the very existence of the farms. In 2003 alone, a drought caused a harvest loss of 1.6 billion euros. Too few farmers are currently insured against such risks. The reason being that farmers in Germany have to pay exceptionally high taxes for plant and animal insurance - in some cases 19 percent. In France, Spain or Italy, on the other hand, there are no taxes on these policies. 

Source: GDV


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