Zurich Italia confirms its commitment to protecting the future of the Italian agricultural sector. It does so with the launch of new parametric solutions, the result of its long-standing partnership with xFarm Technologies. The objective is to protect the economic viability of the agricultural activity, offering immediate compensation and reimbursements available even a few days after the accident, without the need for expertise. 

Thanks to the use of specific environmental parameters for the affected areas, the new insurance products allow to protect the farm against unforeseen costs related to climatic variability and the attacks of phytopathogenic agents, and to obtain a refund also for extraordinary defense interventions and irrigation in case of adverse events. The urgency of a concrete support to the sector is strongly evidenced by the latest Eurostat data, according to which in 2023 economic losses related to extreme weather events in Italy amounted to 15.7 billion Euro.

"Italian agriculture is increasingly exposed to extreme climatic events and unpredictable scenarios, which put at risk harvests and profitability -Luigi De Angeli, chief underwriting officer of Zurich Italy-. It is essential to offer solutions that guarantee immediate and targeted protection. With this new offer, Zurich is strengthening its commitment to farmers by establishing a constant dialogue with the sector and providing innovative and even more precise tools, They respond concretely to their needs and contribute to the stability and future of the sector".

Zurich responds to this critical issue with solutions tailored to the real needs of farmers. The Extra Irrigation cover helps the farmer to incur unforeseen irrigation costs due to particularly dry periods, reimbursing the cost of the volume of water needed to maintain an optimal water balance. The Extra Treatment solution reimburses the costs of extraordinary phytosanitary treatments made necessary by an infectious pressure higher than expected.

For the cultivation of tomatoes, a sector that in Italy generates an annual turnover of about 4.4 billion Euro, Zurich has developed a cover that automatically compensates for replanting costs in case of late frost, without the need for expertise.
The new parametric solutions also include a cover that protects against crop losses due to water stress, regardless of whether irrigation systems are in place. All these solutions are fully digital and allow you to monitor policy parameters and refunds directly from the xFarm app, making the process much faster and more intuitive.

"Risk management is an increasingly central issue, especially in the face of the challenges posed by climate change -adds Matteo Vanotti, ceo of xFarm Technologies-. We started working in this direction already in 2023 and the solutions have had a good response on the market, as evidence of their innovative value. These products have a key strategic value, and we are proud to partner with a leading partner like Zurich to innovate in the insurance industry".