The Queen and one of the richest men in London, the Duke of Westminster, are among the biggest winners from this year's payment of farm subsidies. The Duke, who owns most of Mayfair and also Grosvenor Farms Limited, was paid £562,786, while the Duke of Marlborough, a member of the Churchill family, was paid £452,944 in subsidy for the Blenheim Farm Partnership based in Woodstock, Oxfordshire.
In the practice of the insurance market supervision in EU and CIS countries, the agricultural insurance is usually practiced under the property insurance license. However, in this case it’s impossible for the insurance market supervisor to receive data concerning agricultural insurance separately, as reporting is applied to this type of insurance doesn’t provide the separation of the indicators by kinds and types of the insured property. This is usually the main reason why official statistics on agricultural insurance is absent.
IFC Agri-Insurance Development Project In autumn 2010, insurance companies signed 729 contracts, including 173 contracts providing the ‘full cycle’ coverage and 25 contracts based on area-yield index. The most popular product amongst the producers was insurance of winter crops against total loss during winter period (286 contracts). One hundred and sixty three contracts within the […]
Realized net income for Canadian farmers amounted to $5.7 billion in 2011, a 53.1% increase from 2010. This rise followed a 19.0% increase in 2010 and a 19.6% decline in 2009. Realized income is the difference between a farmer's cash receipts and operating expenses, minus depreciation, plus income in kind. Realized net income fell in four provinces: Newfoundland and Labrador, Nova Scotia, Manitoba and British Columbia. In each, increases in costs outpaced gains in receipts.
US – Report Points to Insurance Industry’s Vulnerability to Climate Change A report out Thursday urges the insurance industry to act to protect itself and the community against the increasing frequency of extreme weather due to climate change. In short, the report, its authors and those endorsing it want more efforts made to calculate climate […]
More than half of the country was under moderate to extreme drought in June, the largest area of the contiguous United States affected by such dryness in nearly 60 years. Nearly 1,300 counties across 29 states have been declared federal disaster areas. Areas under moderate to extreme drought in June of each year are shown in orange below.
Summer has just started but the issue concerning the harvest in Russia in 2012 still remains open. Since the beginning of the year the weather conditions make the experts nervous. It seems that such situation disturbs experts only as the officials continue to claim optimistic forecasts for 2012 season’s crops - they state that the harvest volumes will remain at last year's level no matter what. The experts of Agroinsurance.com decided to analyze the situation from the market specialists’ point of view.
Pest and Disease Threats to Coffee, Cocoa and Rice Figures on the losses of crop production due to pests (FAO, 2002) are extremely hard to validate, however, it is suggested that total global potential losses are in the order of 34% for weeds, 18% for animals and 16% for pathogens (Oerke, 2006). It has also […]
Revenue Insurance: Covering Yield and Price Risks. Basic Requirements from an Insurance perspective Dr. Lambert Muhr, Munich Re Global markets have lately been fuelling the price volatility of agricultural commodities to such an extent that farmers often perceive price as being at least as risky as yield. And it is. Its complexity and extremely systemic […]
Throughout spring-summer 2011, the insurance companies signed 1,981 crop insurance contracts (750 contracts in 2010). Our database does not distinguish between the types of contracts for spring-autumn as these contracts were less standardised than the contracts providing coverage for the winter season. Normally, the insurers allowed producers to select a limited coverage (i.e. selected perils). This reduces the cost of insurance, especially if the client wishes to insure only against some predetermined risks.
Large global crop supplies and more stable prices of a few years ago were quickly replaced by last year’s strong food and biofuel demands, smaller crop supplies, and record-high prices. Today, global recession and crop production increases have sharply lowered prices from last year’s levels. These abrupt changes have raised many issues, from world […]
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