Rice, record insurance coverage in Italy: 75% of protected surfaces

With the insured value of almost 740 million euros (+12% on 2024) and around 75% of the surfaces covered by policies, rice ranks first among arable vegetable crops in Italy, clearly distancing itself from the national average, which stands at around 9%. The picture emerges from the Ismea analysis on risk management in the rice sector, presented in Vercelli as part of the meeting 'Tools and perspectives for the prevention and management of risks in the rice supply chain', organized on the occasion of the Risò international festival.

The territorial distribution of the coverage reflects that of the cultivated areas: Northern Italy concentrates 99.7% of the insured values ​​while as regards the composition of the policies, there is a prevalence of coverage against frequent adversities, in particular hail, strong winds and excess rain. However, coverage against catastrophe risks remains more limited, including drought, which has significantly affected production in the current campaign.

The Ismea analysis also highlights a lower volatility of insurance costs compared to the average for vegetable crops.

"In a context characterized by growing climate uncertainty and strong economic volatility, risk management ceases to be a mere bureaucratic fulfillment and transforms into a strategic pillar of business resilience and competitiveness", commented Sergio Marchi, Ismea general director.

The Institute of services for the agricultural food market, said the president, Livio Proietti, is alongside companies and institutions with increasingly innovative tools: from the public Reinsurance Fund to the Reinsurance Consortium, "which favor the development of innovative policies on the market, up to AgriCat, the national mutual fund co-financed by the EU, and the new index developed by the Institute, the Cevi (Municipal Events Extremes Vulnerability Index)". The latter tool to identify the vulnerability of the territory to support coverage planning and active prevention interventions envisaged by the regional CSRs.

Taking part in the initiative were Camillo Zaccarini Bonelli, director of Support for the Strategic Plan of the CAP of Ismea; Paola Pietropoli, director of Condifesa Vercelli Biella; Patrizia Barrale, HowdenRE Climate Risk & Resilience and Marco Pieri, Ismea Reinsurance Consortium.