Damage regulation
What to do in case of damage?
If the farmer has insured crops through the mediation of an employee of UADBB ”Agrorisk brokers”, in the event of damage to plants caused by meteorological phenomena, the farmer must immediately notify the employees of UADBB ”Agrorisk brokers” or “VH Lietuva” insurance company about the damage, informing about the date of the event, by mail,...
About crop insurance in Lithuania
Until 1999, crop insurance in Lithuania was carried out by only one company – AB Lietuvos Draudimas. However, this type of insurance was unprofitable for the company, therefore in 1999 Lietuvos Draudimas terminated the crop insurance. In 2000, the crop insurance relay was taken over from Lietuvos Draudimas by a subsidiary of the then state-owned Lithuanian...
Why insure crops
Losses caused by meteorological phenomena are constantly increasing.
Insurance benefits average 160%. from insurance premiums paid by farmers.
The state supports crop insurance by compensating 50 percent. insurance premiums, and the risk of frostbite and natural drought is reimbursed up to 70%. insurance premiums from the budget of the European Union.
The activities of the...