Agricultural production continues to play an important role in Latin America’s economic development story. Agricultural insurance, by contrast, remains relatively undeveloped, with large segments of the farming population unprotected and underserved by traditional insurance markets. Agricultural insurance penetration rates average only 0.03% of gross domestic product (GDP) across the entire region – compared to over 0.06% for North America – with most business concentrated in medium- to large-scale commercial farming in Brazil, Mexico and Argentina. This reality reflects a host of demand- and supply-side constraints, such as high operating cost structures and limited incomes of small- and medium-sized farms, and the inherent volatility of revenues and claims in this particular line of business.