Kenya is seeking to expand crop insurance coverage to 33 counties through a government partnership with insurers to encourage more farmers to practice commercial farming. Through an invitation to underwriters to participate in the expanded crop insurance programme (CIP), the government said it would initially target maize, pulses and potato.
AgroInsurance Team is happy to announce new dates and place of the 5th International Conference “Agricultural Insurance, Reinsurance & Brokerage in CIS, Europe & Asia”. The next venue will be held on April 27-29, 2020 in Tbilisi, Georgia, at the Biltmore Hotel. Conference ‘early bird’ registration starts on November 18, 2019.
Agricultural producers can enroll in the Agriculture Risk Coverage and Price Loss Coverage programs – two U.S. Department of Agriculture safety net programs – for the 2020 crop year. Meanwhile, producers who enrolled farms for the 2018 crop year have started receiving more than $1.5 billion for covered commodities for which payments were triggered under such programs.
The United Kingdom-based charity organization Oxfam International announced the success of its blockchain-based delivery system of microinsurance to paddy field farmers in Sri Lanka. In a Nov. 4 press release, Etherisc announced that Oxfam’s blockchain-based insurance system had made pay-outs to Sri Lankan farmers who continue to risk losing their crops due to extreme weather events.
During 2019, nearly 86 million acres of corn, 13 million acres of cotton and 70 million acres of soybeans were covered by crop insurance, accounting for approximately 95% of corn acres and cotton acres and 92% of soybeans acres planted in the U.S. Collectively, farmers paid more than $2.3 billion to cover these crops under crop insurance.
In certain cases, destroyed fences or agricultural equipment may be covered by the provincial Disaster Financial Assistance program. However, a spokesperson for the province told that this is “an assistance program of last resort that evaluates requests for assistance on a case-by-case basis, dependent on the event or disaster.”
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