india

ICICI Lombard has got the go ahead to expand the reach of its index-based crop weather insurance program for farmers in India. The insurer has been given the mandate to provide weather based crop insurance for the 2010-2011 Rabi season (one of the two crop cultivation seasons in India) to eight new states; Madhya Pradesh, […]

Livemint.com, an Indian based financial and business news website, is reporting that Swiss Re has been in talks with the Indian Central and state governments to propose methods to minimise risks to the countries finances and population from natural catastrophes.

India’s government cabinet have today approved changes to the laws which allow commodity trading in the country. The laws have been in place and allowed trading of commodity futures since 2003. The new change to the law will allow commodity options to be traded on exchanges within the country.

Below please find a press release from the Weather Risk Management Association discussing their recent survey of the Indian Weather Risk Management Market. MIAMI, FLORIDA (May 12, 2010) – The Weather Risk Management Association (WRMA) released an industry survey of the Indian Weather Market today at its 12th Annual Meeting in Miami, Florida. The survey […]

The Indian government finance minister announced the 2009-2010 Economic Survey results this week. This annual survey looks at how the economy is progressing and suggests the governments ideas for ways to further stimulate and mature the quick growing financial markets in India.

Agriculture Insurance Company of India is preparing to begin offering weather insurance cover for mangos and apples in selected producing blocks in Himachal, India. This pilot scheme is being run to assess whether the product works for the insured, insurer and government prior to a larger rollout (if successful).

India seem to moving ahead as one of the most advanced regions of the world implementing crop weather insurance schemes. For a long time now there have been index based weather insurance schemes available to rural farmers through microfinance schemes, these schemes work well (most of the time), but assessing claims is proving difficult due […]