Insurers No Longer Willing To Cover Drought-Related Damages On Calamity Purposes

09.07.2015 By Anelis Baciu

Romanian insurance companies are no longer willing to cover drought-related damaged mainly due to the catastrophic nature of the phenomenon, the large affected areas, the high probability to take place and lack of irrigation systems. Under these circumstances, the absence of rain destroyed nearly 16% of the arable area, which means 900,000 hectares of land countrywide, according to Ministry of Agriculture data.

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Keywords:
AGRICULTURE
, INSURER
, DAMAGE