Extreme Weather Costs EU Farmers 28 Billion Euros a Year, EU Says

The European Union's agriculture sector loses an average of 28.3 billion euros ($31.9 billion) each year from extreme weather made worse by climate change, EU-backed analysis published on Tuesday showed.

Most of these losses - which are equivalent to 6% of annual EU crop and livestock production - are not insured. Just 20-30% of farmers' climate-linked losses were covered by public, private or mutual insurance systems, said the report, backed by the European Commission and European Investment Bank, and produced by insurance broker Howden.

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