09.02.2010 Swiss Re - Parametric insurance solutions should play larger role in catastrophe coverage The parametric insurance coverage triggered by the earthquake in Haiti enables the government to provide accelerated assistance to the survivors. USD 8 million payout from the insurance coverage provided by the Caribbean Catastrophe Risk Insurance facility (CCRIF) to the government of Haiti is not a major sum of money. But this is not the point. The point is that the Haitian catastrophe has highlighted the potential of parametric insurance to help countries plan for and pre-finance natural disasters as part of a comprehensive disaster risk management strategy. Author: Swiss Re
21.01.2010 Fundamental Problems Exist with the USDA’s Proposed 2011 Standard Reinsurance Agreement The private crop insurance industry today released a proposal for the 2011 Standard Reinsurance Agreement (SRA). The industry’s proposal is in response to a proposed 2011 SRA released by the USDA/Risk Management Agency (RMA) on December 4, 2009. The industry is deeply concerned with RMA’s initial draft of the 2011 SRA and is proposing a number of changes to reduce the highly detrimental impacts of the RMA proposal. Author: NATIONAL CROP INSURANCE SERVICES
01.12.2009 Insurance company Universalna paid out 100 thousand UAH on livestock insurance contract Insurance company Universalna paid out compensation on livestock insurance contract. Farm "Zolotoy Kolos" (Golden Ear) in Kirovograd oblasts got 100.000 UAH (about 13.000 USD) for breeding sows killed by fire. Author: Press-service of Universalna insurance company
09.11.2009 CUNA Mutual completes deal for ProAg CUNA Mutual Group of Madison said Friday that it has competed its acquisition of Producers Ag Insurance Group (ProAg), making CUNA Mutual sole owner of the multi-peril crop insurer that serves farmers and agricultural producers nationwide. Author: CUNA Mutual
17.08.2009 Guta -Insurance insured crops in Saratov oblast «Guta-Strakhovaniye» (Guta-Insurance) in Saratov oblast insured crops belonging to "Mikhailovskaya" agricultural company. Crops are insured against unfavourable weather events. Liability constitutes 37,6 million RUR. Author: Guta-Insurance
11.08.2009 Swiss Re to reinsure agricultural CAT risks in China Swiss Re announced that it has entered into an agreement with the Beijing Municipal Government to provide reinsurance coverage for catastrophe risks under Beijing’s government-funded agricultural insurance scheme. This agreement provides tailor-made reinsurance protection for livestock, crops and fruits against perils such as epidemic, livestock diseases, flood, hail, wind and rainstorms, covering about 400,000 farming households. Author: Swiss Re
09.05.2009 Insurance company Rossiya insured minks for 129,9 million RUR Regional office of the insurance company Rossiya in St.-Petersburg insured minks. The contract was signed between the insurer and "Severnaya Pushnina" company. The sum insured is 129,9 million RUR or 3,7 million USD. The multiperil livestock insurance contract is signed for 3 years. The coverage includes protection against accidental death or slaughter, fire, natural perils, wildlife damage, and unlawful actions of third parties. Author: Insurance company Rossiya
19.03.2009 Strong growth in 2008 for GEOSYS GEOSYS business is to help its customers in agriculture make better decisions utilizing services built on sound agronomics, remote sensing and geographic-information technologies. GEOSYS sales grew 40% in 2008, a strong confirmation of the value we bring to the professionals we serve. This growth was well balanced over our entire product portfolio and over all of our various geographies, particularly in North America. Author: www.geosys.com
19.12.2008 NASK «Oranta» summarized activity at the market of agricultural insurance in 2008 NASK «Oranta» pre-summarized crops insurance in winter time (from 2008 to 2009). Thus, upon concluding 450 insurance agreements in 22 oblasts of Ukraine the company collected UAH 8,6 million of insurance bonuses for comprehensive (subsidized) crops insurance in winter time. In addition, the company UAH 792,4 thousand of insurance payments pursuant to voluntary crops insurance agreements and perennials insurance agreements. Author: Oranta
09.12.2008 Ukraine - Reinsurance company VAB Re started a national reinsurance program for agricultural risks Starting from November 2008 Ukrainian reinsurance company VAB Re started a reinsurance program for agricultural risks including crop and livestock insurance. The program was agreed by the technical committee of VAB Re. The program includes risk assessment, premium rate calculation and guidelines for survey, loss adjustment and contract administration.
07.06.2010 Adjusting Hail and Storm Damage on Maize seminar - September 8-10, 2010, Switzerland International Association of Agricultural Production Insurers offers a seminar on hail and storm damage on corn. The seminar is jointly organized by the association and Swiss Hail. the seminar will be conducted on September 8-10, 2010 in Egerkingen. Enrolment - by August 1, 2010. 12.04.2010 Remote Sensing Index-Based Crop Insurance Working Group meeting - August 10-11, 2010, USA The 2nd International Working Group On Remote Sensing Index-Based Crop Insurance will take place on August 10-11, 2010 in San Francisco, CA at the Fairmont Hotel. Practical technical issues related to implementing satellite derived index based crop insurance will be discussed.
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