Farmers face severe losses after floods. Expert discusses the need for better insurance coverage amidst rising extreme weather events.
Recent floods have left over 4,300 farmers affected, with around 120,000 hectares of agricultural land damaged. Farmers will receive support of up to 5,000 PLN per hectare of unharvested crops. This assistance includes debt forgiveness for agricultural land leases and compensation for flood-affected crops.
Insurance Gaps
Many farmers underinsure their assets, leading to substantial losses. While 75% insure their farm buildings, only 22% insure crops. According to insurance expert Marek Łagodowski, flood clauses are rarely included in insurance policies, leaving most farmers unprepared for events of this scale.
Increasing Risks
Łagodowski highlights the growing frequency of extreme weather events due to climate change, with Poland losing around 6 billion PLN annually to such disasters. He emphasizes the importance of comprehensive insurance and professional advisory services to mitigate future risks.