Kenya has become one of Africa’s pioneers in developing an agriculture insurance market to protect smallholders and pastoralists against the risks of the unpredictable and changing climate. Kenya’s first index-based agriculture insurance pilot took place in 2006. Since then, the Kenyan government, the private sector and development institutions, have been collaborating and experimenting to develop and expand the market.
USDA’s Risk Management Agency is authorizing self-certification on replant inspections and waiving witness signatures in certain situations as part of a broader suite of flexibilities to support producers during the coronavirus pandemic. Many state and local governments have issued “stay-at-home” orders in response to the COVID-19 pandemic, which may prevent loss adjusters from completing on-the-farm replant inspections.
Minnesota Senators Amy Klobuchar and Tina Smith say USDA’s Risk Management Agency is providing flexibilities to aid producers who are facing slumping commodity prices due to the Covid 19 pandemic. Minnesota Farm Bureau President Kevin Paap says producers need all the options they can get to deal with the crisis and crop insurance is their key safety net program.
Four years ago, when the government unveiled the Pradhan Mantri Fasal Bima Yojana (PMFBY), the crop insurance scheme, general insurance companies saw it as a big opportunity. Bulk of the premium was to come directly from the Centre as well as states. Customer acquisition costs were almost nil as states along with banks were sharing data of farmers.
Due to unseasonal storm and rain, crops including pulses, oilseeds, and vegetables have suffered a lot of damage. Farmers have to suffer a lot due to this unprecedented hailstorm and rainfall across Indian states. Moreover, the crop of pulses and oilseeds was damaged at a time when the farmer was about to harvest the crops, or at a time when the capital has been spent from sowing to harvesting.
Insurers in Kenya are yet to put together a policy that can cushion farmers against losses from desert locusts currently ravaging parts of the country. Farmers in the Rift Valley and Western regions of Kenya are currently preparing for the planting season, which could largely be impacted by the invasion of desert locusts.
In 2016, one of the biggest reforms the Bharatiya Janata Party unveiled for the farm sector was the new crop insurance scheme. The new scheme--Pradhan Mantri Fasal Bima Yojana--promised farmers a higher cover at much lower premiums and covered localized crop damages, as well as post-harvest and re-sowing losses.
Rural women’s work is concentrated in agriculture, which is the sector hardest hit by climate change. As part of a holistic approach to managing agricultural risk, insurance schemes can reduce producers’ vulnerability, strengthen their livelihoods and build their resilience. However, they are often designed and delivered without considering women’s needs, excluding female producers and restricting the growth of the insurance market.
Leading reinsurers Swiss Re and AXA XL Reinsurance, as well as the Georgian insurance company Aldagi will sponsor the organization of the 2020 AgroInsurance Conference, which is to take place in Tbilisi, Georgia on April 27-29, 2020. As part of the conference sponsorship and partnership programs, AgroInsurance is giving away a number of free tickets to representatives of insurance companies.
News Publications Documents
Agricultural insurance Analitics Australia Canada Canada crop crop insurance crop loss crop losses damage disease drought farmers flood frost Hail India losses News Philippines rain Russia Spain Ukraine USA USA АЧС Болезни Господдержка Европа Казахстан Страхование урожая животноводство засуха кукуруза метеообзор озимые потеря урожая пшеница свиноводство состояние посевов соя страхование посевов субсидии урожай