Key features and outcomes of implementing the new risk insurance program for agricultural producers in crop production in case of natural disasters

This article analyzes the implementation and results of a new agricultural insurance program in Russia aimed at protecting crops in the event of natural disasters. Launched successfully in 2020, the program expands the options for insurance protection in the agricultural sector, offering an alternative to traditional multi-risk insurance. Unlike the conventional approach, the new program offers favorable financial conditions, including preferential subsidies covering up to 80.0% of the insurance premium, and utilizes satellite monitoring to verify losses. The article highlights key outcomes of the program’s implementation, such as a 77.8% increase in insured areas from 2022 to 2023, significant tariff reductions, and increased appeal for farm enterprises. The program has reduced claims settlement times to 4-10 days. The authors analyze the structure of insurance payouts across different risk categories (drought, hydrological, and storm events) and note that the new program facilitates faster and more effective compensation for losses from natural disasters.