Livestock insurance in Russia grew by 30% in 2022

The volume of insurance in the field of agriculture is increasing from year to year, the Rosgosstrakh company reported. According to the company, insurance volumes in agriculture grew in 2022 by more than 10%, while insurance in livestock grew by 30%, which is much stronger than insurance in the crop sector (here the figures increased by only 5%).

Rosgosstrakh experts explained that such a spread is due to the fact that the risks in animal husbandry are very high. Infectious diseases, such as highly pathogenic avian influenza or African swine fever, can lead to the destruction of tens of thousands of livestock, undermine the economic condition of an enterprise, even completely destroy a large livestock complex. Rosgosstrakh noted that the volume of insured poultry and pigs reaches 60% in RUSSIA.

Farmers insure less cattle (cattle), the company said. Cattle insurance is especially attractive for rural farmers who keep cattle in their personal subsidiary farms, since the death of the only cow in the household can be a serious problem for the household. For insurance, farmers use the special Burenka insurance program. Rosgosstrakh noted that 25 million rubles were allocated for insurance compensation in connection with the death of cattle in 2022, and most of the payments (90%) were due to the death of cattle from diseases and injuries.

The experts stressed that in many villages there are not enough veterinarians who could possibly prevent the death of the animal. Now Rosgosstrakh has developed an insurance program Burenka. My Farm”, where, among other innovations, televeterinary services are offered to farmers.