Returns from policyholders are always the same, testifies Charles Maury, founder and director of CLImate-INSurance, a company specializing in parametric insurance. They appreciate parametric insurance because it has no excess, no Olympic average or expertise, and reimbursement is quick in the event of an injury. »
Still underdeveloped in viticulture, this type of insurance is gaining ground in the sector. Its strengths are its simplicity and readability. The vintner chooses the parcels and the capital he wants to insure. It is ensured according to predetermined parameters and measured with tools specified in the contract. For frost, these are approved weather stations which can be placed in the insured’s vineyards, in a neighboring plot or belong to Météo France. It is enough that the temperature falls below the threshold set in the contract, for a period also set – for example – 3°C in April – for the insured to receive compensation. No expert comes to see the damage. In the event of hail, insurance companies use hail sensors. Of course, the volume of their contracts takes into account the possible repetition of episodes of frost or hail.
In Cognac, the insurance company Atekka, a subsidiary of InVivo, and the cooperative group Océalia have teamed up with the American company Understory to make an offer. “For frost, we have installed sixteen connected stations that measure the temperature of the vine leaves in the heart of the vineyard”, explains Laurent Marbotte, commercial director of Atekka.
Offered since this year, this insurance has already been used with frost from -4°C to -6°C in early April 2022 and an episode of hail in June. In Cognac, a winegrower insured 9.80 ha, with no deductible against frost and with a 10% deductible against hail, at a price of €9,290. The sum insured was €97,976. He received €19,066 for the frost on 4 April and €33,984 for the hail on 20 June.
It is not subsidized
“Parametric insurance provides complementary solutions for winegrowers, continues Laurent Marbotte. The downside is that it is not subsidized. It can be taken out with classic climate insurance, which covers losses in addition to the deductible of 20 to 25%. In this case, parametric insurance can cover losses from 0 to 20% or 25%. »
Bernard Finas, president and founder of Jola insurance brokerage, compares the two types of insurance. “I’m not trying to put them in competition, he specifies. Since it is subsidized, multi-peril weather insurance is unmatched in terms of pricing. Parametric insurance can be added to ensure the deductible or the difference between the actual selling price and that which appears from the scale the insurance refers to. It is case by case. Parametric insurance can, for example, cover a need for two years if the Olympic average is judged to be too low by the insured, and is no longer relevant after two good harvests. »
A contract that truly protects
Charles Maury’s clients do not combine the two types of insurance: “They feel that traditional insurance is not a solution for them. Admittedly, parametric insurance is not subsidized, but they prefer to pay for a contract that really protects them”.
Charles Maury also offers insurance for lack of supply to cooperative basements. “The cooperatives in the Rhône valley, which have been affected by small harvests for several years in a row, are starting to take an interest in he testifies. Often they provide capital that enables them to cover their fixed costs. » All these insurance companies point out that the realization of these tailor-made contracts takes time and that you should not wait until the end of February to contact them!