Deputy Minister of Agriculture of the Russian Federation Elena Fastova assessed the development of agricultural insurance in Russia

The meeting took place on March 4 at the Russian Ministry of Agriculture. Issues related to improving agricultural insurance mechanisms were discussed , including loss settlement procedures, features of the regional development of insurance protection, insurance of certain sectors of crop and livestock production, as well as possible solutions to the problem of shortage of weather stations. The participants reviewed joint plans to address the main tasks and activities for the current year.

In 2023, for the first time in RUSSIA, insurance coverage of more than 15% of cultivated areas was achieved. Insurance contracts were concluded for 12.5 million hectares of crops in 66 regions of the Russian Federation. Since 2018, when coverage was 1.5%, this figure has increased 10 times. 

Positive dynamics and an increase in the insured area were noted for all groups of agricultural crops. For the first time, 30% of industrial vegetable growing was insured, and winter sowing was provided with insurance for at least 26%.

Farm animals were insured with state support in 67 constituent entities of the Russian Federation, the coverage of industrial livestock in the country was 43% by the end of 2023. An increase in cattle insurance was recorded by 1.5 times; for the first time, 20% of the livestock was insured.

Elena Fastova assessed the results of the development of the agricultural insurance system positively and noted the need to strengthen measures to further improve the conditions and procedures of insurance in the interests of farmers. 

NSA President Korney Bizhdov emphasized that this area should be given special attention over the next two years.