Creation of a French universal crop insurance system

crop insuranceThe natural disasters that took place in recent months in France have strongly affected farmers. In this regard, Pr. Emmanuel Macron, announced on 10 September 2021, the upcoming creation of a new universal crop insurance system.

The bill on crop insurance reform will be presented to parliament before Christmas and implemented in 2023.

Depending on climatic hazards, the new solution could be implemented at three levels.

  • For the lowest risks, the loss will be taken in charge by the farmer (self-insurance).
  • For medium risks, private insurers will reimburse holders of comprehensive weather contracts. The latter are subsidized by the State.
  • Serious risks will be covered by public funds, accessible to all farmers whether or not they are insured. The State is committed to paying 600 million EUR (708.783 million USD) per year against 300 million EUR (354.392 million USD) currently to compensate farmers who sustained great losses due to natural disasters.

The system aims to increase the number of insured producers from 30% to 60% within five years.

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