The subscribers of some 63,000 agricultural insurance policies against drought will begin to receive, from today and during the next few days, the supplementary subsidy for the contracting of agricultural insurance for which the Ministry of Agriculture, Fisheries and Food approved a loan of 40.5 million euros.
This aid is included in the royal decree-law on measures to support the sector against drought and the consequences of the war in Ukraine approved by the Council of Ministers on May 4 and published in the Official State Gazette on May 11.
The Spanish Group of Insurance Entities of Combined Agricultural Insurance (Agroseguro) will enter in the next few days the amounts corresponding to each insured, without the need for them to carry out any additional procedures.
Drought insurance is provided under several agricultural insurance lines, although this extraordinary subsidy focuses especially on extensive arable crops, vineyards, almonds, pastures for livestock and olive groves. This aid complements the one already received at the time of subscription, up to 70% on the cost of the premium, the maximum allowed by the current Community regulations on State aid to the agricultural sector.