The state-run Hellenic Agricultural Insurance (EL.GA) organization has calculated total crop damages in Greece, up until September 2016, at 135 million euros, the maximum figure envisioned by the EU for the country.
The state-run Hellenic Agricultural Insurance (EL.GA) organization has calculated total crop damages in Greece, up until September 2016, at 135 million euros, the maximum figure envisioned by the EU for the country.
The forecast is conditional, assuming no more damages are recorded in the fourth quarter of the year.
The figure mirrors crop damages recorded by the agency in Greece for 2015
According to EL.GA president Theofanis Kourebes, payments for this year’s damages have been disbursed to a smaller percentage of beneficiaries, although they will pick up in pace next month, with more payments made in regions where reports are finalized.
Kourebes added that payments for verified damages in 2015 have reached the 98-percent mark.
In reference to conerns about the state-run organization's viability amid a difficult fiscal situation for the country, he appeared optimistic, saying producers’ contributions on an annual basis reach 150 million euros, while EL.GA has 70 million euros in reserve.
Finally, he said there was no intent on the part of EL.GA to raise premiums this year or 2017.