Hurricane Michael is expected to bring crop losses of up to about $2bn to the southeastern US – but that damage is unlikely to trickle into reinsurance. The US Department of Agriculture reported that Michael severely damaged cotton, timber, pecan and peanut crops, impacting up to 3.7mn acres of crop. RMS estimated liabilities could reach up to $1.9bn, but privately industry sources suggest losses closer to $1.3bn.
Moody’s has suggested that the effects of climate changes may present many opportunities for re/insurers to expand their operations by introducing new products, expanding existing ones, and by closing the protection gap. A recent report by the company predicts that insurance will likely become a more widespread part of comprehensive risk adaptation strategies as the financial and economic risks associated with climate change become more pronounced, and as governments, businesses and individuals become more aware of these risks.
French insurer and reinsurer SCOR has announced that it supports a recently launched insurance solution that leverages technology to improve drought resilience in Ethiopia, called the Satellite Index Insurance for Pastoralists in Ethiopia (SIIPE). The agricultural sector is vital to the Ethiopian economy, and as such, resilience to drought is important for many people’s livelihoods and survival, particularly poor pastoralist households.
The 4th International Conference “Agricultural Insurance, Reinsurance and Brokerage in the CIS, Europe and Asia” took place on April 16-18, 2018 in Belgrade, Serbia. The conference was attended by more than 90 delegates from 30 countries representing more than 60 companies. Attendees came from leading global reinsurance and insurance firms, insurance brokers and consulting agencies, market regulators, and large financial institutions.
More than 70 delegates from 25 countries have confirmed their participation. Various aspects of agricultural insurance will be presented by nineteen guest speakers. An updated program, information about confirmed presenters and the latest list of participants are available on the event’s website. In addition to specialist presentations that will be discussed in individual sessions, delegates will have an opportunity to participate in a panel discussion on: “Modern Technology in Agricultural Insurance”.
Leading reinsurance companies Swiss Re, Munich Re, Partner Re and Catlin XL act as key event’s sponsors of the international conference “Agroinsurance and Reinsurance of Agricultural Risks in the CIS, Europe and Asia”, which will take place on April 16-18, 2018 in Belgrade, Serbia. Event partners include AFC (Agriculture and Finance Consultants International, Germany), Generali Osiguranje (Serbia) and the international weather service UBIMET (Austria). XPRIMM Publications is the event’s Official Media Partner.
News Publications Documents
Agricultural insurance Analitics Australia Canada Canada crop crop insurance crop loss crop losses damage disease drought farmers flood frost Hail India losses News pest Philippines rain Russia Spain Ukraine USA USA АЧС Господдержка Казахстан Страхование урожая животноводство засуха кукуруза метеообзор озимые потеря урожая почвенная засуха пшеница свиноводство состояние посевов соя страхование субсидии урожай