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Emerging market agricultural insurance premiums set to grow fourfold by 2025

The latest sigma report published by reinsurer Swiss Re discusses the issue of agricultural insurance and reinsurance in emerging markets and suggests that premiums are set to grow fourfold over the next decade or so. Currently the emerging economies of the world make up around 22% of global agricultural insurance read the full article →

Kilimo Salama weather index microinsurance scheme expands to Rwanda

A weather index based microinsurance scheme which has been active in Kenya for more than two years is now expanding its reach to include Rwanda as well. The scheme which offers farmers a way to protect their crops against weather extremes through the use of insurance products with parametric index read the full article →

S&P: Drought to cause over $5 billion of crop insurance losses for private re/insurers

A report from rating agency Standard & Poor's estimates that the U.S. crop insurance and reinsurance sector will see losses of over $5 billion from the severe drought which has been affecting much of the country in 2012. S&P says that however large the loss becomes they believe it will read the full article →

U.S. drought crop insurance losses to reach into billions, hit reinsurers

Just two or three weeks ago many insurance publications were suggesting that crop insurance losses resulting from the severe drought in the U.S. would not be large enough to hit the global reinsurance market. We've been cautious on this point, as we could see the increasing severity of the drought read the full article →

2011 U.S. crop insurance losses approach $11 billion

Back in January we wrote that U.S. crop insurance losses had hit record levels of $9 billion for the year 2011, with much of those losses attributed to freezing weather across the Southern U.S. states, droughts in the Plains, flooding along the Mississippi river, severe rainstorms and hail from severe read the full article →

Record U.S. crop insurance payments in 2011

2011 was a year that saw a lot of records broken in weather and natural disaster events, the results of which were insured losses for the year of between $105 billion to $110 billion across the globe. Now data has been published which shows that U.S. crop insurance claims payments read the full article →

AIR Launches Multiple Peril Crop Insurance Model for China

Risk modeller AIR Worldwide have launched a new crop weather insurance model for China today. The new model is being hailed as the industry's first Multiple Peril Crop Insurance (MPCI) Model for China and provides a fully probabilistic approach for determining losses to China's main crops: corn, cotton, rapeseed, rice, read the full article →

Allianz Re seek to revolutionise crop insurance with radar-based technology

Allianz Reinsurance have announced a new technology based approach to crop insurance that they have been working on. In cooperation with software company Sarmap, who specialise in finding ways to better manage earths resources, they have developed radar-based remote sensing software which will not only allow measurement of biomass growth, read the full article →

WeatherBill expands product range to include cover for 2012 winter wheat crop

Weatherbill, the weather insurance specialists who offer a number of products such as their RainCheck insurance, have announced that they have expanded their Total Weather Insurance products coverage to include cover for the 2012 winter wheat crop. To date the Total Weather Insurance program only offered the U.S. agriculture industry read the full article →

Hot and dry weather in France likely to hit insurers profits

France is currently in the middle of the worst drought the country has faced in the last 50 years according to the French weather agency Météo France. The dry period has surpassed the 1976 heat and drought period and experts say as bad as 2003 when thousands died in a read the full article →