crop insurance


La Niña conditions declared for the Pacific

The Australian Bureau of Meteorology (BOM) has declared La Niña conditions for the Pacific ocean, highlighting that the event could cause weather impacts in Australia and more widely, which has ramifications for insurance and reinsurance market interests. La Niña conditions have yet to be declared by the World Meteorological Organization (WMO), read the full article →

Rom Aviv leads insurance for Agritask, as RMS’ Stander joins as Advisor

Rom Aviv, a former senior employee of insurance-linked securities (ILS ) fund manager Twelve Capital and Israeli investors IBI ILS Partners, is leading insurance for Agritask, an ag-tech and agronomics focused start-up, while Daniel Stander of RMS fame has joined the firm as a senior advisor. Aviv joined Agritask earlier this read the full article →

Climate variability & Australian farm profits, why weather risk transfer is key

At a time when Australian has been sweltering in record heat while bush fires burned out of control, then suffering from severe storms, a recent study seeks to quantify the effect of climate variability on farm profits in the country. The impacts of both short-term climate risks such as drought and read the full article →

QBE warns on U.S. attritional property & crop losses due to weather

Australian headquartered insurance and reinsurance group QBE has issued a warning that it expects elevated attritional losses in U.S. property and North American crop business due to adverse weather conditions and hail. The re/insurer said that adverse weather conditions, including an unusually cool growing season and increased levels of crop hail read the full article →

Multi-peril crop insurance model for India launched by AIR Worldwide

Catastrophe risk modelling specialist has launched a new multi-peril crop insurance risk model for India, which it believes will help underwriters better understand and estimate potential losses due to yield shortfalls. The firm said that its Multiple Peril Crop Insurance (MPCI) Model for India will assist insurance and reinsurance firm sin read the full article →

Double-digit rate increases forecast for Florida reinsurance renewal by S&P

Given the magnitude of the insurance industry losses suffered in regions affected by major hurricanes in 2017, rating agency Standard & Poor's anticipates a continuation of the trend seen in January for rising rates, forecasting double-digit rate increases at the Florida and Caribbean renewals later this year. The trend seen at read the full article →

El Niño in decline but impacting global weather, ~50% chance of La Niña

The current near-record El Niño event appears on the wane, with conditions attributed to the phenomenon said to be in decline, but its effects set to be felt for some time to come, with insurance and reinsurance firms now turning their heads to the possible development of La Niña conditions. The read the full article →

As El Niño intensifies global drought losses to surpass $8bn: Aon

As the 2015/16 El Niño event intensifies there is an expectation that global economic losses from drought will surpass the previous forecasts of $8 billion, suggesting a growing toll for crop insurance, reinsurance and any ILS investors exposed to agricultural lines. Reinsurance broker Aon Benfield's risk modelling specialist unit Impact Forecasting read the full article →

AIR Multiple Peril Crop Insurance (MPCI) model gains traction in ILS

The insurance-linked security (ILS) and reinsurance-linked investment market increasingly shows an interest in adopting the use of crop insurance risk models, as the sector looks to find new avenues to deploy capital into for premium income return. The ILS and collateralized reinsurance market sees crop as a potential new peril. Risk read the full article →

Kalista launches multi-peril crop industry loss warranty (ILW) products

Kalista Global the Bermuda headquartered insurance and reinsurance services firm focusing on the insurance-linked securities (ILS), catastrophe bond, parametric re/insurance and alternative reinsurance sectors, has launched another new product today. Hot on the heels of the launch of an index-based ENSO (El Nino) cover the firm has announced the launch read the full article →