USA - Re/insurance will cover almost a quarter of $17bn Florence losses

07.11.2018 28 views
Private insurance and reinsurance is expected to cover $4.6 billion of the estimated $16.7 billion in economic losses caused by Hurricane Florence in North Carolina, according to state Governor Roy Cooper. Initial estimates indicate at least $2.5 billion of potential federal aid and $0.8 billion will also go towards funding losses from Florence, which leaves a total gap of $8.8 billion that will need to be met by a combination of additional federal, private, and state aid, a report by North Carolina state found. Economic losses from Florence were driven by a combination of both direct and indirect damages, with losses to businesses, housing and agriculture driving approximately 80% of the total loss estimate, according to the report. The impact on businesses and non-profits in North Carolina is currently estimated at around $5.7 billion, with over 3,800 properties incurring water damage and more than 23,000 incurring wind damages. Hurricane related business interruption losses were also significant and will likely have substantial knock-on effects to local economies and businesses, Governor Cooper noted. Roughly 30% of households in North Carolina were affected by the storm, resulting in a preliminary impact estimate of $5.6 billion to single and multi-family dwellings, as well as Affordable, Temporary and Supporting Housing, with costs expected to grow further. In terms of agriculture, Florence caused large scale loss of crops and livestock with an estimated impact of $2.4 billion, including $1.1 billion in crop, livestock and commodity losses and $117.7 million in farm buildings, equipment, and infrastructure losses, the report found. Hurricane Florence brought historic levels of flooding to the Carolinas in September, with high winds, dangerous storm surge and record rainfall battering the states for six days due to the slow-moving nature of the storm. It should be noted that this report only accounts for losses resulting from Hurricane Florence in North Carolina, and does not include the widespread damage caused in South Carolina and other areas. Source - https://www.reinsurancene.ws
03.12.2021

Italy - Bad weather strikes Sicily once again

A bad weather front has hit an area specialized in intensive cultivation in protected facilities between Gela (CL) and Ispica (RG), Sicily. The damage registered hasn't been huge, at least not everywhere, but some companies had to deal with the partial collapse of their greenhouses or polytunnels.

03.12.2021

India - Farmers In Bhadrak, Puri districts stare at huge crop loss prospects

Farmers are going to bear the brunt of approaching cyclone Jawad as they are yet to shift their harvested paddy to safety. Already affected by the pandemic, paddy farmers and vegetable growers hoped for a decent harvest this season. But, cyclone ‘Jawad’ is going to dash their hopes to the ground. 

03.12.2021

United Kingdom - Success in chemical-free insect control trial

A unique field trial achieved a 91 per cent reduction in an invasive target pest first spotted in the UK in 2012. Agritech start-up BigSis conducted the trial in partnership with Berry Gardens, the UK’s largest supplier of berries and cherries, and the world-renowned research institute NIAB EMR.

03.12.2021

India - Flood loss pegged at Rs 11k crore, crop on 10 lakh hectares damaged in Karnataka

Heavy rains in the last two months claimed 42 lives and left a trail of destruction in several districts. The state government has pegged the losses at Rs 11,916 crore. Agriculture crops in over 7.9 lakh hectares, 1.25 lakh hectares of horticulture crops, 74,530 hectares of plantation crops and 243 hectares of sericulture crops have been damaged due to heavy rains in October and November 2021.

03.12.2021

USA - New research takes aim at devastating citrus greening

Citrus greening, or Huanglongbing disease, HLB, is the most devastating disease for orange and grapefruit trees in the U.S. Prevention and treatment methods have proven elusive, and a definitive cure does not exist.

03.12.2021

Israel - In MY 2020/21, citrus production dropped 4.3 percent below initial 2020 estimates

It is estimated that MY 2021/22 will be characterized by low production – falling considerably below the average total citrus production of 512 thousand metric tons (TMT) – due to extreme weather conditions during the growing season.

03.12.2021

France - Small harvest and difficult sales in 2021

According to the French agricultural statistics service Agreste, “On November 1st 2021, the estimated areas planted with melons in 2021 correspond to 12,100 ha, which is 1% more than last year and 6% less than the 2016-2020 average. 

03.12.2021

USA - USDA improves, strengthens crop insurance for hemp producers

In response to feedback received from the producers, the U.S. Department of Agriculture is improving crop insurance for hemp. USDA’s Risk Management Agency is strengthening the hemp crop insurance policy by adding flexibilities around how producers work with processors as well as improving consistency with the most recent USDA hemp regulation.