NEWS
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News
23.09.2024

USA - Importance of crop insurance understood

One of the few things representatives of both Presidential candidates can agree on is the importance of crop insurance.Crop insurance is a critical tool, and there needs to be bipartisan support to ensure the programs are preserved and strengthened going forward.

23.09.2024

Crop insurance scheme by WFP is redefining the future of rural farming in Ethiopia

A crop insurance scheme by the World Food Programme (WFP) in partnership with the Ethiopian government is redefining the future of rural farming in the East African country. Launched in 2013, the scheme insures farmers against droughts, excessive rainfall, hailstorms, pests and crop diseases which have been discouraging the growers from investing in improved agricultural practices, making them even more vulnerable to climate extremes and food insecurity.

23.09.2024

Canada - Pea to golf ball size hail hits Prairie Province crops

Pea- to golf ball-size hail destroys crops across the Prairie Provinces. Several strong storms hit the Prairie Provinces in August dropping pea- to golf ball-size hail. CCHA member companies are investigating 1,3,40 claims of crop damage from storms that occurred August 12-18. Most of the severe hail hit farms across Saskatchewan.

23.09.2024

A fraud scandal in the USA sheds light on the problems of parametric insurance

So-called parametric insurance receives a lot of attention in the scientific literature. What is special about it is that it pays out automatically when a certain, scientifically determinable index value is reached. This is particularly convincing for weather-related insurance.However, a fraud scandal in the US states of Kansas and Colorado shows that the moral hazard is by no means as low as claimed in theoretical treatises.

23.09.2024

Canada - Hundreds of Alberta farmers reporting damage following violent hail storm

After finally getting timely spring rains following years of drought, some southern Alberta farmers are now facing massive crop losses. A violent hailstorm, which left behind busted windows and damaged siding in Calgary, also wreaked havoc in rural areas east of the city, including in Vulcan County.A significant number of farmers in the county lost their entire harvest to hail damage

23.09.2024

India - Kashmir Fruit Growers’ Union demands immediate Crop Insurance Scheme implementation

The Kashmir Valley Fruit Growers cum Dealers Union, an umbrella body representing all fruit growers’ associations in the region, has urgently called on the government to implement the long-promised Crop Insurance Scheme. Despite previous government assurances, the scheme has yet to be put into action, leaving growers vulnerable to the financial fallout of natural disasters

22.09.2024

How reinsurance can advance agriculture insurance

With the increasing unpredictability and severity of the weather, agriculture across the world has become fraught with risks. Old solutions have become unfeasible and current solutions do not provide enough protection.

22.09.2024

Australian farmers face tough decisions as crops fail

Grain crops are failing in parts of the country due to dry weather and severe frosts. Farmers are weighing up whether to cut them for hay instead of taking them through to harvest, but some crops are too poor even for hay.

22.09.2024

Agricultural insurance in China shows muted growth

Agricultural insurance in Chinahas been a stable growth sector in the property insurance industry, consistently achieving high premium growth rates, averaging around 20% year-on-year (YoY) for over a decade, reported Caixin Global. However, in the first half of 2024, agricultural insurance premium growth was muted, increasing only 6% YoY.

22.09.2024

China Boosts Farmer Protection With Nationwide Insurance for Major Grains

Finance Ministry of China announced the nationwide implementation of full-cost insurance and planting income insurance policies for rice, wheat and corn, as part of a food security drive to encourage planting of staple grains.

22.09.2024

India - Farmers urge government to directly take care of crop insurance scheme

Farmers have urged the government to directly take care of the crop insurance scheme as they did not get any benefits from the private insurance firms despite paying the premium

22.09.2024

How much will the crop insurance market grow in 2027?

The global crop insurance market is projected to grow by $14.82b, with a compound annual growth rate (CAGR) of 6.63% between 2022 and 2027. Asia Pacific is expected to contribute 31%of the market’s growth

22.09.2024

India - Farmers ask Forest Department to step up night patrols as elephants continue to raid crops

Farmers in Thadagam Valley reported that elephants have been regularly visiting almost every village in the area at night for over two months. They have appealed to the Department to increase the number of patrol teams.

22.09.2024

Bulgaria Seeks EU Agricultural Funds to Combat Drought and Fire Damage

Bulgariahas formally requested the activation offundsfrom the European Union’s agricultural reserve due to extensive damage caused by the ongoingdrought. The request highlights that the country has also been severely affected by fires in July and August.

19.09.2024

India - Government expects higher kharif rice output despite rain damage

Indian rice production this year will be higher than last year despite heavy rains and flooding in some states.

19.09.2024

Asia’s rice production hit by ‘very aggressive’ weedy varieties, with up to 80% of harvest loss

Some farming methods used to fight the menace such as growing herbicide-tolerant rice varieties have failed to stem the weedy rice invasion. While the origins of weedy rice are unclear, several of its varieties began to emerge in Asia about two decades ago

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