OREANDA-NEWS. August 08, 2012. The compensations paid by competent companies to insure agricultural crops against fire and other nature calamities stood at 33.6 million lei in the first half of 2012, - almost four-fold more against the year before, according to data by the National Financial Market Commission (CNPF).

It is pretty difficult, the winter frost and the past months' drought compromised a part of the harvest, farmers have big losses, according to experts in the sector.

CNPF data shows that the insurances subscribed by this means amounted to 32 million lei - less than the paid compensations. In the first six months of 2012, the premiums got in terms of goods (agricultural crops) insurances amounted to 10.79 million lei, and the compensations stood at 1.79 million lei.

As little as 4-5 per cent of Moldova's farmlands are insured, although the insurances market in agriculture was liberalized over the last years, and more and more companies got right to ensure lands, the Agriculture Ministry has earlier said. The state subsidizes 60 per cent of the lands' insurance premium. Nonetheless, quite a few farmers demand this assistance from the state.

The Moldovan insurances market grew by 7.33 per cent in the first half of 2012, and amounted to half a billion lei of subscribed insurances, although the business in the field of insurances brought less profit than in 2011. The CNPF data shows that, the second year in a row, the compensations paid by companies record a much higher increase against the one of the subscribed insurances. Thus, in the first half of 2012, the sum of the paid compensations rose by 8.15 per cent up to 186.9 million lei.

The vehicle liability insurances continue to dominate the market with a quota of more than 60 per cent in the first half of 2012, while the goods insurances have a share of up to 17 per cent.