Agroinsurance

USA - Farmers cope with ‘nightmare’ of crop loss after flooding

A week after the catastrophic flooding in Steuben County, farmers are now seeing the extent of crop loss as water drains from fields.

Korean peasants protest as climate crises, crop loss, rising costs, and cheap imports pose existential threat

Peasants nationwide gathered outside the National Assembly of the Republic of Korea. They were convening a National Congress to address an existential crisis in rural areas. The protesting peasants called for improved national policies to protect the interests of small-scale food producers amidst climate crises, crop losses, rising input costs, and price volatility.

India - Heavy rainfall in Pune leads to crop damage

In Pune, heavy rainfall has led to crop damage across several areas, causing a decrease in the number of vegetable-loaded trucks arriving at Market Yard from the usual 1,200-1,500 to 1,000 on Thursday. This situation has been attributed to the adverse weather conditions experienced in Alandi, Pimpalgaon, Wada, Rajgurunagar, Kude, Pait, Chakan, Kanhersar, Kadus, Bhosari, and Haveli.

Insurance on drop in cattle prices for farmers in Canada

Beef farmers located on Prince Edward Island (PEI) in Canada will be offered protection against “an unexpected drop in prices over a defined period of time” through a pilot insurance programme which has been rolled out.

USA - Drought drove almost $10B in crop insurance payments to Texas farmers over 22 years

A new investigation shows that drought conditions in Texas triggered more federal crop insurance payments to farmers than any other reason and made up an astounding 43 percent of all crop insurance payments in the state between 2001 and 2022. And Texas received by far the most drought payments out of all states – over $3 billion more than the next most expensive state, Kansas.

Sri Lanka - Why agriculture insurance is key to avoiding food shortages

Sri Lanks agricultural sector, the backbone of the nation’s economy and food supply, faces unprecedented risks due to climate change and unpredictable policy shifts, such as the abrupt push for organic agriculture, which led to a national crisis.In recent years, Sri Lanka agricultural sector has suffered heavily from natural disasters and ill-advised policy changes.

Romania - Agra Asigurări announces record figures for damage claims

Agra Asigurări, the national leader in agricultural insurance, announces record numbers regarding damage claims for the agricultural year 2023-2024. In total, over 2400 damages have been reported due to the recent extreme meteorological phenomena Romania has faced.

India - Farmers express disappointment over crop insurance scheme

Farmers have expressed disappointment over the lack of transparency in the sanction of compensation under the crop insurance scheme.A list for the 2024 crop insurance payouts was recently released, but only 68 villages out of 277 in the district were included, and of those, compensation was provided to just 16 villages. He alleged significant irregularities in the distribution of crop insurance compensation.

Vietnam - Agricultural insurance expected to play bigger role in economy

Agricultural insurance will gradually play an important role in Vietnam in which more than 60% of the population live in rural areas and are largely dependent on agricultural production.However, currently, insurers are hesitant about offeringagricultural insuranceeven though the state has a subsidy scheme for agricultural insurance premiums. The subsidies range from 20% to 100% of the premiums, depending on the participants (poor, near-poor, and ordinary farmers).

France - Do not bet the Farm on Crop Insurance Subsidies

Crop insurance is one of the most important protections against climate-related risks for farmers. Despite being heavily subsidized, insurance take-up in France remains surprisingly low.The penetration rate of crop insurance is low in France. Only 13.3% of farms were insured in 2020, and the numbers are stable, perhaps in slight increase, from 12% in 2016.

Catastrophic Floods Cause Major Disruptions to Brazil’s Agricultural Sector

Record rainfall in May 2024 in Rio Grande do Sul, Brazil’s southernmost state, has caused destructive flooding that is wreaking havoc on the country’s agricultural and livestock sectors. The flooding demolished food storage, stalled harvests, and damaged soils. Destroyed or obstructed infrastructure is also limiting food transportation and farm operations.

Pakistan - SECP calls for mandatory crop insurance programme

Despite natural and human-induced vulnerabilities posing challenges to food security, livestock and crop insurance in Pakistan is almost nonexistent. Out of a total of Rs553 billion gross premiums for the year 2022, the agriculture insurance premiums account for just Rs2.8bn.

Türkiye - State-supported agricultural insurance stimulates agricultural sector expansion

The total insured value of state-supported agricultural insurance increased by 115.5% in 2023 when compared to a year earlier to TL 638,3 billion ($19.5 billion). The total state support premium amount in the agricultural sector increased by 91.7% yearly to TL 9.24 billion

South Korea - Agricultural households covered skyrockets in 2022 vs 2010

As of 2022, the number of farming households covered by agricultural insurance has grown to approximately 550,000, a significant increase from the only 64,000 households that were covered in 2010

India - Farmers in Villupuram told to insure crops under PM scheme

The district administration has urged the farmers in Villupuram to insure paddy crops under the Pradhan Mantri Fasal Bima Yojana (Prime Minister’s Crop Insurance Scheme) for 2024so that they can avail themselves of crop relief in case of loss due to natural calamities, pest attack or disease outbreak in the ongoing Samba season.