BB Seguros records a 49% increase in claims filed in rural insurance in the fall

BB Seguros recorded a 49% increase in claims reported during autumn 2022, compared to the same period last year. Between March and June, the insurance company was contacted for claims that would total R$807,5 million in compensation, compared to R$541,4 million in 2021. Around 98% of incidents opened by insured farmers in the season were caused by long periods without rain in some regions of the country.

“In recent years, Brazilian agribusiness has had difficulties with climate issues, which translates into more concern among producers about the results of their harvests, especially between summer and spring”, analyzes João Fruet, Commercial Director at Brasilseg, a company BB Seguros. “We understand that this challenge can be better overcome through the synergy between technology-based solutions and rural insurance, which contributes decisively to their financial planning”, adds the executive.

Between March and May, in particular, there was also a 75% increase in amounts compensated by insurance that mainly covers damage caused by weather events. In addition to the drought, there was a significant incidence of frost, this phenomenon being the second most responsible for the activations.

The South and Southeast regions were the most affected by the conditions characteristic of autumn 2022: the state of Paraná led the volume of incidents compensated by BB Seguros, followed by Rio Grande do Sul, Minas Gerais and São Paulo. In the Central-West, Goiás and Mato Grosso were the states with the highest volume of claims paid; while in the Northeast, Sergipe led the ranking.