This document provides an overview of the actual impact caused by COVID-19 pandemics to agricultural insurance markets in 29 countries. It is based on the survey conducted by AgroInsurance International in July 2020 – February 2021. Survey questionnaire responses were complemented with the personal communication notes and analysis of industry-related public sources.
Allianz experts estimate that the value of the agriculture insurance segment to stand at $10 million but say it holds the potential to grow to $30 million. They aim at partnering with aggregators such as banks, cooperatives, agro-dealers, and commodity Associations to deploy the solution, said Lovemore Forichi, Senior Underwriter of Agriculture at Allianz Re.
Last year, Hafizur Rahman's entire rice crop drowned in floodwaters that followed heavy rain in northern Bangladesh. The loss forced the 30-year-old farmer from Kurigram district to look for daily labouring work, hoping to scrape together enough money for seed to plant a new 8-acre (3-hectare) rice crop this year.
Due to the uncertain situation relating to COVID-19, the seminar on «Hail and Frost Damage on Berries» will unfortunately not be able to take place in Switzerland this year as planned. However, the seminar will be held in Switzerland in spring 2022 within the usual setting. In preparation for this, we would like to invite you to participate in the following event: Online Loss Adjusters' Seminar on Hail and Frost Damage on Berries 22nd June 2021 | 1 to 4 pm (CEST)
Farmers Welfare and Agriculture Development Minister Kamal Patel has said that his government is determined to double the income of farmers. There will be no discrimination or discrimination of any kind in benefiting the farmers. The government has launched the Mukhya Mantri Crop Procurement Scheme to benefit the farmers.
Claims worth Rs 1,866 crore were yet to be paid to farmers, while defaulting states were to pay their shares of subsidy to the tune of Rs 1,680 crore as at the end of kharif 2019 season. Inordinate delays in payment of premium by many state governments are forcing insurers to hold up claim settlements under Pradhan Mantri Fasal Bima Yojana (PMFBY), Centre’s flagship crop insurance scheme.
The agricultural insurance losses reached EUR 632.9 million in 2020, according to data provided by Agroseguro. This is the fourth consecutive year with agricultural losses exceeding EUR 600 million. At the beginning of the year, storm Gloria followed by repeated hailstorms have damaged more than 427,300 hectares of crops, with losses reaching EUR 241.3 million.
Belize’s Міnіѕtrу оf Аgrісulturе, Fооd Ѕесurіtу аnd Еntеrрrіѕе has stated іt wіll bе rеlеаѕіng рhаѕе 2 оf іtѕ rеlіеf fоr rеgіѕtеrеd growеrѕ whо hаvе bееn ѕеvеrеlу іmрасtеd bу thе Сovid раndеmіс аnd thе 2019 drоught. Тhе Аgrісulturаl Ѕubрrојесt іѕ а раrt оf thе Соntіngеnt Еmеrgеnсу Rеѕроnѕе Соmроnеnt (СЕRС) оf thе Веlіzе Сlіmаtе Rеѕіlіеnt Іnfrаѕtruсturе Рrојесt (ВСRІР).
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