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IICA and ALASA call for promotion of agricultural insurance

IICA and ALASA call for promotion of agricultural insurance

The Puebla Declaration, which was signed on Thursday, states that agricultural insurance is the key to risk management in the face of climate change in Latin America and the Caribbean.

The Puebla Declaration was signed by IICA and ALASA in Mexico on May 29.

Puebla, Mexico, 29 May, 2014 (IICA). The Inter-American Institute for Cooperation on Agriculture (IICA) and the Latin American Association for the Development of Agricultural Insurance (ALASA) called upon the countries of the region to promote agricultural insurance, as a mechanism for mitigating the risks facing agriculture, especially climatic risks, and achieving food security.

The Puebla Declaration, signed by IICA and ALASA in Mexico on 29 May, urges Heads of Government in Latin America and the Caribbean to review the policies that affect small farmers and create insurance plans that fit the agricultural risk profile of each country.

The document takes into account that agricultural insurance is an important risk management tool that would make it possible to cover the impacts caused by natural disasters, which affect food security.

The declaration therefore states that it is absolutely essential that countries put in place rules, laws, regulations, and investments that support the producers and promote the development of this type of insurance.

According to Víctor M. Villalobos, Director General of IICA “Agricultural insurance is an essential tool for dealing with the many risks that exist for the most vulnerable producers - the small and medium-sized farmers”.

The declaration, signed within the framework of the XIII ALASA Conference, also points out that governmental policies should be geared toward reducing the threat of major economic destruction through the creation of adequate risk management strategies.

Furthermore, the governments are asked to create a stable regulatory environment and develop lasting associations – both public and private – that implement agricultural insurance programs that are both successful and sustainable.

The declaration further states that governments should have strategies in place to manage agricultural risks that promote the interests of small farmers, as an essential requirement for the achievement of food security in light of climate change.

The Puebla Declaration indicates that the development of insurance markets and guarantee funds can help improve access to financial resources and significantly reduce the perception of risk in agricultural activity, which would make it possible to improve financing conditions and attract investments to the sector.

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