Editorial
Editorial
1980, 45 years ago, is the first year of the Multi-Peril Agricultural Insurance Scheme in Spain. This insurance scheme, acknowledged as a successful exemplary model is based upon Act 87/1978, of 28 December, of Multi-Peril Agricultural Insurance, still in full force and effect and completely developed along this period of time, that has known the implementation of the scheme, its development until becoming a key element in the management of a sector so strategic for a nation as the primary one and, in the most recent years, the more and more conspicuous effects of the climate crisis.
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1980. Decisions that make history
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Agroseguro (Agrupación Española de Entidades Aseguradoras de los Seguros Agrarios Combinados, S.A.) [Spanish Pool of Multi-peril Agricultural Insurance Companies, PLC] was created in 1980 at the instigation and thanks to the commitment of 25 insurance entities and following extensive legislative efforts by politicians of the time. It was unquestionably a process that came into being at a point in time for our country and our democracy when agricultural insurance was viewed as a cornerstone of the kind of Spain people were trying to build.
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X-ray image of Agroseguro and the Spanish multi-peril agricultural insurance scheme: linchpins of crop and livestock farming in Spain
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Taking an x-ray of an enterprise's situation is no easy matter when it is growing in size year by year and when its impact on society grows along with its size. Furthermore, Agroseguro's impact can be said to have multiple benefits, since the focus of its insurance, crop and livestock insurance for farms, is essential to the survival of most Spanish towns and to food production to feed all those of us who live both in rural areas and in city centres.
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Multi-peril agricultural insurance: 45 years protecting the farming sector
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Spain's Multi-peril Agricultural Insurance scheme has already acquired a long track record as the main tool used by the farming sector to manage the risks farmers have to face. It is intended to meet the need to protect producers, who, because of their highly dependent relationship with the environment, are always at the mercy of adverse weather events, which are becoming increasingly more common in today's climate situation.
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The Consorcio de Compensación de Seguros' support for the Multi-peril Agricultural Insurance scheme
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Spain's present successful multi-peril agricultural insurance scheme started out with the 1978 Spanish Multi-peril Agricultural Insurance Act [Ley 87/1978, de 28 de diciembre, de Seguros Agrarios Combinados] (in Spanish) and has just marked the 45th anniversary of the creation of Agroseguro (Agrupación Española de Entidades Aseguradoras de los Seguros Agrarios Combinados, S.A.), Multi-peril Agricultural Insurance Providers, PLC on 17 April 1980.
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An analysis of the Consorcio de Compensación de Seguros' reinsurance scheme for the Multi-Peril Agricultural scheme over the past 20 years.
Time series for 2005 – 2024
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CCS has been providing reinsurance for the crop insurance scheme from the inception of farm and agricultural combined insurance coverage, that is, since 1980, although this article focuses on the last 20 years, namely, the time series for 2005-2024, setting out data on reinsurance premiums, compensation paid out by the CCS, and changes in the CCS's agricultural activity stabilisation reserve, because in our opinion going back further to earlier times will be of little help in elucidating the data and in drawing possible conclusions.
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Agricultural risk management strategies and climate change
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Sums insured under multi-peril agricultural insurance in the past 10 years have grown substantially. This highlights the importance this type of insurance has as an instrument for managing the risks faced by farms and for sustaining the livelihoods of farmers. This has, however, gone hand in hand with rising loss rates that have remained at high levels for a number of consecutive years. This is a wake-up call about the sustainability of the insurance scheme.
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FSFC: A new financial architecture for anticipating hunger
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Agrifood systems are subject to numerous simultaneous risks that are continually growing more interconnected and outstripping the capabilities of conventional aid and financing structures. The challenge is to ensure that mechanisms continue to operate when all else fails; that harvested crops continue to reach markets; that farm income does not collapse; and that shocks do not curtail access to food.
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