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.
03.02.2012 Southern Brazilian Drought Costs Billions Nothing like a drought to get you thinking about crop insurance. One Brazilian consultancy says main-crop corn yields in Brazil's southernmost state of Rio Grande do Sul are going to be down 45% from last year, to as low as 48½ bushels per acre. And while things got less awful as you go north from there, farmers in two of the country's top ag states are hurting badly this year from the vagaries of the weather.
03.02.2012 India - 61.6 lakh farmers covered under Weather Based Crop Insurance Scheme The coverage of farmers under Weather Based Crop Insurance Scheme (WBCIS) has gone up from 35,000 in Kharif 2007 to 61.6 lakh in Kharif 2011. Claims worth Rs 972 crore have been settled so far. The overall coverage under the scheme is 1.95 crore farmers over an area of 2.78 crore hectares. The scheme has been implemented since Kharif 2007.
03.02.2012 US - NAU Country Insurance Company Announces EASYmapping™ Launch NAU Country Insurance Company announced their new mapping system, EASYmapping™, is available to agents. In its infancy, policy mapping was revolutionary in the crop insurance industry. In the years since, NAU Country has continued to lead the way in mapping innovation. EASYmapping™ boasts new features and a rock-solid user interface that is generating a lot of excitement in the industry.
03.02.2012 US - Organic production survey being conducted USDA's National Agricultural Statistics Service (NASS) is conducting a survey of certified organic farming to gather production and marketing information on organic farming in the U.S. The survey runs from December to April, and focuses on crop and livestock production. The USDA's Risk Management Agency (RMA) will use the results to improve federal crop insurance for organic crops, as required by the 2008 Farm Bill.
03.02.2012 Europe - Concern as cold hits EU grain with no snow cover Bitterly cold weather currently engulfing much of Europe is raising concerns over damage to European Union grain plantings but crops could still come through the cold snap unscathed, analysts said. No actual damage has yet been reported in top producers France, Germany and Britain but if the cold snap continues there will be increased worry next year's harvest will suffer.
03.02.2012 Australia braces for floods, threat to coal and crops Heavy summer rains across eastern Australia prompted authorities to issue flood warnings for vast areas of Queensland and New South Wales states on Thursday, including coal mining areas in the Hunter Valley. The Bureau of Meteorology issued the flood warnings with heavy rain expected over the next 24 hours, following saturating rains over the past week which have already swelled rivers in New South Wales and Queensland.
30.10.2011 Where the margin is 2012 - conference in Moscow The Conference "Where the margin is" will be held on January 31, 2012, in MOscow in the Radisson Slavianskaya Hotel. The conference is meant for agricultural producers, inputs manufacturers, dealers and distributors, financiers, insurers, agribusiness investors, policy makers. 29.05.2011 Seminar on Index based Weather Insurance - India, July 25-27, 2011 Crop insurance (yield and weather based) is a specialty insurance, the technical nuances of which need to be clearly understood by all the stakeholders. The programme aims at enhancing the understanding of critical issues related to these specialised products and providing a comprehensive technical understanding of the weather index insurance covers in India.
02.12.2011 Ukraine - pictures of winter wheat fields in Zhytomir oblast In mid November experts surveyed winter wheat fields in Zhytomir oblast. Condition of crop fields is different. the crop seeded in September is good. Late seeded crops are underdeveloped due to autumn drought. Some fields are still black, seeds have just germinated but not appearing over the soil surface. 29.11.2011 Ukraine - winter wheat, bad fields in Ternopil oblast (pictures from survey) Experts of one insurance company surveyed fields of winter wheat in Ternopil oblast. Surveys were conducted in mid November. Most fields surveyed were in bad condition. All photos were made at the same farm
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