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agricultural reinsurance

India looks to reduce reinsurance on agricultural insurance program

29th July 2019

The Government of India is reportedly considering a pool mechanism for its national agricultural insurance program to limit money flowing out of the country to international reinsurance companies. Indian publication Business Standard reported that foreign reinsurance and private insurance firms have been big beneficiaries of premiums collected under Pradhan Mantri Fasal ... Read the full article

Aon & Oxfam launch blockchain-based insurance for farmers in Sri Lanka

1st July 2019

Re/insurance broker Aon has partnered with Oxfam and insurtech firm Etherisc to launch a blockchain-based insurance platform for smallholder farmers in Sri Lanka. Nearly 200 farmers have been enrolled in the solution, which aims to deliver micro-insurance for paddy field farmers who are at risk of losing their crops due to ... Read the full article

MS Amlin enhances rural motor insurance offering with digital trading solution

3rd May 2019

Insurer and reinsurer MS Amlin has announced a significant update to its Countrywise insurance products and claims solutions, designed to meet the agricultural motor insurance needs of both brokers and their customers. To upgrade its Countrywise insurance product and claims solutions, MS Amlin has launched a new and innovative digital trading ... Read the full article

Lockton launches Food & Agribusiness Practice in Asia-Pacific, names head

24th April 2019

Re/insurance broker Lockton has launched a new Food & Agribusiness Practice across the Asia-Pacific region, and has hired Stephane Baldanoff to lead it as Regional Director. As head of the Food & Agribusiness team, Baldanoff will leverage Lockton’s experience in these industries and expand the group’s existing capabilities in Asia-Pacific. He will ... Read the full article

David Gregori to lead Willis Re’s new Asia Pacific agriculture team

20th February 2019

Willis Re, the reinsurance arm of global insurance broker Willis Towers Watson, has launched a new Agriculture team for the Asia Pacific region and appointed David Gregori to lead it. As Head of Agriculture for Asia Pacific, Gregori will lead a team based in Hong Kong to support clients and partners ... Read the full article

Sompo International’s Italian agriculture unit transitions to insurance agency

14th February 2019

Sompo International Holdings, the Bermuda-based specialty provider of property and casualty insurance and reinsurance, has announced that its wholly owned subsidiary, A&A S.r.l, is now able to operate as a multi-mandate insurance agency. A&A, which was acquired by Sompo in March 2018, has operated as a broker in the Italian agriculture ... Read the full article

JBA partners with Chaucer on new India Crop catastrophe model

14th November 2018

JBA Risk Management, the global flood risk modeller, has partnered with international specialty insurer Chaucer on the development of a new catastrophe model to help re/insurers price and assess their exposure within India’s Crop Insurance scheme, Pradhan Mantri Fasal Bima Yojana (PMFBY). The launch of the India Crop model is intended ... Read the full article

Australia looks to cyclone index insurance for agriculture

7th November 2018

Farmers, insurers and researchers in Queensland, Australia have been working together on a new project to offer a more affordable alternative to multi-peril crop insurance, using index insurance to protect against natural disasters like cyclones. The project has been developed as part of the state government’s Drought and Climate Adaptation Program ... Read the full article

Aon, Etherisc and Oxfam partner on joint micro-insurance program in Sri Lanka

2nd November 2018

Re/insurance broker Aon is collaborating with Oxfam and InsurTech firm Etherisc on a joint program to deliver micro-insurance to small holder paddy field farmers in Sri Lanka using blockchain technology. The parties plan to leverage blockchain to automate parametric insurance products, which will simplify the claims process and remove the need ... Read the full article

Australian insurers propose new measures to support drought-affected farmers

29th October 2018

The Insurance Council of Australia (ICA) has lent its support to a series of proposals designed to improve the uptake of farm income and crop insurance for primary producers in Australia. Rob Whelan, Chief Executive Officer of the ICA, said that access to better data, removing unfair taxes, and introducing incentives ... Read the full article

G20 Insurance Forum to outline insurers’ role in tackling global challenges

26th September 2018

A series of discussions are due to take place in Argentina this week as the G20 Insurance Forum examines the role of insurers in tackling global challenges. The forum’s first session will examine insurers’ role in boosting resilience and stability in society, and the part insurers play in food security and ... Read the full article

Mapfre and AgriTask launch digital claims system for agricultural insurers

14th August 2018

Spanish insurer Mapfre has partnered with AgriTask, an international precision agriculture provider, to develop a digital claims management system for insurance companies operating in the agricultural sector. The new system integrates relevant geographical information of plots covered by insurance and correlates inspection protocols to the actual location of all policyholders, providing ... Read the full article

Winemakers face bankruptcy following intense hailstorms in southwest France

31st May 2018

Winemakers in the Bordeaux and Cognac regions of southwest France are facing the prospect of bankruptcy after violent hailstorms inflicted extensive damage across hundreds of vineyards. Official sources estimate 10,000 hectares (24,710 acres) out of a total 70,000 hectares were affected. The impact of the storm on winemakers could lead to ... Read the full article

CelsiusPro tenders technical assistance for Armenian agricultural scheme

15th May 2018

Swiss InsurTech firm CelsiusPro has completed a multi stakeholder international tender on behalf of the German development bank KfW and the Central Bank of Armenia for the technical assistance to establish a nation-wide agricultural re/insurance scheme in Armenia. CelsiusPro defined the terms of reference (ToR), organised the international tender for multiple ... Read the full article

Indian agriculture schemes require global reinsurance industry integration

10th May 2018

Lloyd’s and catastrophe risk modeller RMS have released a report that claims the global reinsurance industry needs to more fully integrated into current Indian agricultural re/insurance schemes. India is the world’s second largest agricultural economy after China with an Agriculture Gross Domestic Product of US $392 billion, but remains largely uninsured ... Read the full article

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