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Revenue Insurance: Covering Yield and Price Risks. Basic Requirements from an Insurance perspective

Managing price risk with crop revenue insurance has attracted much attention in recent years, with only two successful schemes (USA and Canada) indicating the factors most critical for success: ample regional yield-price information, effective ways of price discovery and – most importantly – extensive public support, both for regulation and finances.

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Last publications
Press release of the companies
GEOSYS continues its growth and implements GEOSYS Europe in Switzerland, headquarters of its European Operations
International Conference “Agricultural Insurance, Reinsurance and Brokerage in CIS, Europe & Asia” – Registration deadline approaches
Livestock insurance and public-private partnership to be discussed in Istanbul
Agricultural insurance issues to be discussed in October 2014, Istanbul
2014 New Conference dates and place are set and announced
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Agribussines insurance
Developing Successful and Sustainable Agricultural Insurance Programs
Development of weather index insurance product for tea growers in Sri Lanka
Weather insurance - Agriculture and algorithms
General Insurance Article - Satellites in agricultural insurance
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International practice
The Evolution of Risk Management in Aquaculture: The Case of Insurance
Risk Management in Aquaculture: Case Study of Haiti
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Risk management
The U.S. Drought Monitor and Its Role in Agricultural Drought Risk Management
Implications from Hail Damage on Young Corn
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Analytical papers
Global Droughts and Heat Waves
USA - Crop Insurance Coverage Details
Russia Livestock Overview: Cattle, Swine, Sheep & Goats
'Fat cats' benefit from EU farming subsidies
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Traditional insurance products
Basic premium rates on multi-peril crop insurance (MPCI) program in Moldova
Canada - Bee Overwintering Insurance Program (Alberta)
Asparagus Revenue Market Loss Assistance Payment (ALAP) Program
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News line
Netherlands - Hail hits Dutch fruit growers hard right before harvest

For a long time, fruit growers in the Netherlands seemed to manage to evade the hail, but last night - right before the harvest - severe weather passed over the country from the southwest to the northeast, with heavy local thunderstorms, heavy winds and big hailstones. In Zeeland, West-Brabant and the Betuwe, this resulted in huge local damage. For the fruit growers affected, it's a drama, because most of them were to begin harvesting fruit this week or the next. When the crops dry, the total damage will become clear later today, but it's certain that a large area has been affected.
USA - Minnesota corn, soybean development outpaces last year; small grain harvest nearly complete

Minnesota's corn and soybean crops are developing ahead of last year's pace. According to the USDA's weekly crop report Monday, 65 percent of Minnesota's corn acreage was in or beyond dent stage. That's 10 days ahead of last year and six days ahead of the five-year average. Soybeans also are outpacing last year. For the week ending Sunday, 27 percent of soybean acreage was turning color or beyond — nine days ahead of last year and four days ahead of average.
India - Expand farm insurance scheme to all farmers and for all crops

Exposing the hollowness and limited use of the National Crop Insurance Scheme (NCIS) in its current form, a PIL filed in the Madras high court has said the NCIS is applicable only for 20 crop varieties and an affected farmer can claim the insurance benefit only if an entire firkha of five villages are hit by a specified natural calamity.
India - Recent rain raises farmers’ hopes

The recent showers have brought back smiles on the faces of farmers and they have started sowing. The district was facing a deficient monsoon and crops were withering as a result. For the last over two months, the district had not received rain, farming had come to a halt and the crop sown was withering. Those who had not started cultivation are now heaving a sigh of relief. However, over 50 per cent of the kharif crop has been lost due to delayed and deficient rain.
USA - Stink bugs, other pests appearing in large numbers in late-planted crops

Experts with the University of Arkansas System Division of Agriculture are forecasting unusually dense insect and pest populations in crops across the state this year, due primarily to widespread flooding in the spring and early summer and subsequently late-season planting. Extension rice agronomist for the Division of Agriculture, noted reports of stink bugs in rice fields throughout the state, after having appeared in large numbers in grain sorghum fields several weeks earlier, in a mid-August edition of the Arkansas Rice Report.
USA - Wet summer casts doubt on upcoming harvest in central Illinois

One of the wettest summers in modern Illinois history, featuring the rainiest June on record, has shrouded the coming harvest season in a mystery only the reapers will answer once they hit the fields in earnest next month. Rain totaled almost 9 inches in June, more than double the state average, breaking a 113-year-old record. That was along with above-average rain totals in Illinois for May and July.
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2014 Livestock insurance and public-private partnership to be discussed in Istanbul

Agricultural insurance issues is going to be discussed at the International Conference "Agricultural Insurance, Reinsurance & Brokerage in CIS, Europe & Asia", October 6-8, 2014 in Istanbul, Turkey. Conference Agenda covers topics on high-value crop insurance, livestock insurance and national insurance programs development with PPP mechanisms applied. World’s top experts will discuss the importance of historical data use and its analysis for agricultural insurance programs development and actuarial calculation methodologies.

2014 Agricultural insurance issues to be discussed in October, Istanbul

New dates and place of the International Conference "Agricultural Insurance, Reinsurance & Brokerage in CIS, Europe & Asia" were set for October 6-8, 2014 in Istanbul, Turkey. Conference `Standard registration’ fee option has been launched on August 1, 2014. Conference Agenda will keep most of the topics planned earlier, as well, as it will be added with new speakers and topics. Quite a number of reinsurance and insurance industry representatives, brokers and insurance consultants from USA, Canada and Eurasia territories will participate in this event.

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Risk events
Georgia - Vineyards hit severely by hail

In Georgia on May 29 in Khornabuji village of Kakheti hail caused significant damage to local vineyards.
Italy - Hail on melons and secondary deseases: risk event

"After yet another hailstorm in the Mantua area, and the serious downy mildew problems, we have lost over 200 hectares of melons, i.e. almost the entire July and August production," explains Ettore Cagna, chairman of Don Camillo. "Such a disaster means it will be very difficult for us to comply with the collection schedule arranged with our clients." "Of course we had planned our production at the beginning of the season according to different schedules and areas, but we lost practically everything this year!" "We are indeed preparing an emergency programme to try and reduce any inconvenience for our clients though," concludes Mr. Cagna. Source - FreshPLaza
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