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Milan, April 8, 2025 - Zurich Italy confirms its commitment to protecting the future of the Italian agricultural sector with the launch of new parametric solutions, the result of its now established partnership with xFarm Technologies. The goal is to protect the economic sustainability of agricultural activity, offering immediate compensation and reimbursements available even within days of the claim, without the need for an expert opinion. Thanks to the use of environmental parameters specific to the affected areas, the new insurance products make it possible to protect the agricultural enterprise against unforeseen costs related to climatic variability and attacks by phytopathogens, and to obtain reimbursement even for extraordinary defense and irrigation interventions in the event of adverse events.
The urgency of concrete support for the sector emerges strongly from the latest Eurostat data, which showed that in 2023 economic losses related to extreme weather events in Italy amounted to 15.7 billion euros1.
Luigi De Angeli, Chief Underwriting Officer of Zurich Italy, commented, "Italian agriculture is increasingly exposed to extreme weather events and unpredictable scenarios that put crops and profitability at risk. It is essential to offer solutions that guarantee immediate and targeted protection. With this new offering, Zurich strengthens its commitment alongside farmers, consolidating an ongoing dialogue with the sector and providing innovative and even more precise tools that concretely respond to their needs and help provide stability and a future for the sector."
Zurich responds to this critical issue with solutions designed for the real needs of farmers. Extra Irrigation coverage helps the farmer meet unexpected irrigation expenses due to particularly dry periods by reimbursing the cost of the volume of water needed to maintain an optimal water balance. Extra Treatment reimburses the cost of extraordinary phytosanitary treatments made necessary by higher than expected infectious pressure.
For tomato cultivation, a sector that generates annual sales of about 4.4 billion euros in Italy, Zurich has developed coverage that automatically compensates for replanting costs in the event of a late frost, without the need for an expert opinion.
The new parametric solutions also include a cover that protects against crop losses due to water stress, regardless of the presence of irrigation systems.
All of these solutions are entirely digital and allow the progress of policy-related parameters and reimbursements to be monitored directly from thexFarmapp , 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. We started working on this as early as 2023, and the solutions have been well received in the market, which is a testament to their innovative value. These products have fundamental strategic value and we are proud to collaborate with a major partner like Zurich to innovate the insurance industry." adds Matteo Vanotti, CEO of xFarm Technologies.
[1] https://ec.europa.eu/eurostat/databrowser/view/sdg_13_40/default/table
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