Agroinsurance

PRESS RELEASES

Post-Release of 2024 AgroInsurance International Conference in Belgrade, Serbia

19.06.2024 654 views

The 2024 AgroInsurance International Conference took place on June 3-5th, 2024 in Belgrade, Serbia. The conference was attended by 75 participants and speakers from 22 countries representing 47 companies and international organizations.

In 2024, the conference agenda was focused on the following key topics:

Regional market overview in Europe, Caucasus, Central Asia and Africa;
Insurability of complex / systemic risks – adjusting to a “new normal” for spring frosts and droughts;
Spring frost insurance – technical aspects of indemnity and index-based solutions;
Application of earth-observation technologies for enhancing agricultural insurance and disaster risk management programs.

The conference opened with the European markets’ overview, providing insights on the most recent developments with subsidy programs and the gradual change in attitude towards subsidizing the insurance premiums for systemic risks. The European markets review showed changes in approaches to enhance the Public-Private Partnership cooperation in Spain, France, Italy, Switzerland and Germany.

The Caucasian and Central Asian market overview summarised on the current development advances and challenges in Moldova, Georgia, Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan and Uzbekistan. A special accent was made on the market regulation and the challenges seen in these countries within the last few years.

The overview of agricultural insurance programs in Africa summarised the status of several programs. It has also provided a quality example of PPP approaches and cooperation with financial institutions in Rwanda, as one of the prominent examples on how it may help to involve a significant number of smallholder farmers in the country.

Another section of the agenda focused on the insurability of systemic and complex risks, such as spring frost and drought. The challenges seen in Europe within the last three years demand the reconsideration of the spring frost coverage and actual insurability of that risk. At the same time, the droughts continuously affect the crop yields and overall agricultural production in Europe and Asia. The first day of the conference concluded with a discussion about the technical aspects of development and the implementation of systemic risk insurance programs enhanced by the innovative earth observation solutions available on the market.

A special accent of the second day was made on discussing industry gaps and ways of introduction of available satellite and drone technologies by insurers in order to address key risks, which included the challenges of using artificial intelligence solutions that are able to enhance underwriting and loss adjustment of agricultural risk insurance. The second day was dedicated to the importance of adopting technology innovations available with commercial service providers. These technologies advance faster than implemented by insurers, creating the gap that needs to be addressed by both insurers and Earth Observation service providers.

The second day concluded with a panel discussion on the use of technological innovations in agricultural insurance and risk insurability in the future. Participants had an opportunity to comment on the existing challenges and possible solutions in closing the gaps of insurers and technology providers.

NOTE: Conference presentation deck is provided to all registered participants. Other interested companies and individuals can access the set of presentations and other materials for a fee. For inquiries, please refer to: admin@agroinsurance.com.

Conference Summary
Since 2013, the AgroInsurance International Conferences continuously serve as a platform for discussion and experience shared through the cross-sectoral communication and collaboration among industry experts from various global locations. The representatives of insurers, reinsurers, technology companies, development organisations and governmental agencies work in close cooperation to establish new business links and create development opportunities for global and regional markets. Participating organizations continuously foster a productive exchange of ideas and technical information. Conference organisers engaged participants in numerous meetings, negotiations, and business opportunity discussions, enabling both knowledge and experience sharing on the technical aspects of agricultural insurance and technology applications.

After the successful Conference in 2024, Agroinsurance International will continue in organising its events throughout 2025-2026 to foster the sharing of technical knowledge and practical expertise whilst promoting agricultural insurance development efforts on a global scale. The updates on future conferences and workshops will be shared with all conference participants and the subscribers of www.agroinsurance.com.

Source - www.agroinsurance.com

EVENTS

ScaleAgData Stakeholder Engagement Event

22.10.2024

The ScaleAgData project is pleased to invite you to our second stakeholder event. Building on the discussions and connections formed during our first webinar, this event will focus on fostering collaboration among stakeholders, providing updates on our project’s progress, and outlining future opportunities for engagement.

RISK EVENTS

Cyclone Alfred causes $11 million crop damage in Australia

20.03.2025

The Australian horticultural sector faced challenges following Cyclone Alfred's impact in late February.

2022 AgroInsurance International Conference - Speakers and Agenda updated

The list of Speakers and Agenda for the 2022 AgroInsurance International Conference have been updated. The most recent list of presentations is already available at the official website - www.agroinsconf.com.

21.06.2022

Nine Companies Support 2022 AgroInsurance International Conference as Sponsors and Partners

AgroInsurance International Conference will take place in Tbilisi, Georgia on September 26-28, 2022. Hannover Re – the leading agricultural reinsurance company is the official Conference Sponsor. Five companies have already supported this event contributing to the Conference agenda making presentations on various aspects of agricultural insurance during the first two days.

26.04.2022

Book The Dates: AgroInsurance International Conference will be held on September 26-28, 2022

The epidemic situation with COVID-19 has been put globally under control with major air connections and international travels renewed. Georgia has also eased most of the restrictions making it possible to confirm the new dates of the International Conference “Agricultural Insurance, Reinsurance & Brokerage in CIS, Europe & Asia”. The venue will be held on September 26-28, 2022 in Tbilisi, Georgia, at the Biltmore Hotel.

11.11.2021

Planet To Acquire VanderSat To Deliver Advanced Agriculture Data Products

Planet has entered into an agreement to acquire VanderSat, a leading provider of advanced earth data and analytics. Vandersat’s innovative products help customers better measure and understand water management and crop health in major markets. Planet intends to leverage VanderSat’s technologies and products in further pursuit of bringing to market next-generation solutions that combine the best of commercial and public satellite data to provide clear and actionable information to help industries, non-profits, and governments around the world.

02.07.2021

EVENT UPDATE: AgroInsurance Conference will be held on October 4-6, 2021

As the global situation with the COVID-19 is being put under control with the massive vaccination being currently in progress, AgroInsurance team confirms that the International Conference "Agroinsurance, Reinsurance & Brokerage for CIS, Europe & Asia" is planned for October 4-6, 2021 in Biltmore Hotel Tbilisi. We recommend all participants to schedule vaccination in advance to be able to come to Georgia and avoid additional cost on PCR tests. Conference agenda will be updated with the new presentations and speakers, covering the technical aspects of new insurance programs’ development, underwriting, loss adjustment, claims management and application of innovative technology solutions. Program will focus on challenges and technical specifics of introduction and upscaling of crop and livestock insurance programs. Venue will include a Panel Discussion dedicated to the challenges that agricultural insurance industry struggles with, and possible ways to address those challenges with methods, solutions and technologies available. Conference Agenda will also include a 1-day field visit to meet Georgian farmers. Further conference updates will be posted on our official websites www.agroinsconf.com and www.agroinsurance.com. Should you have any specific questions or concerns with the conference dates and travel arrangements, please contact us via admin@agroinsurance.com. COVID-19 related travel requirements to Georgia will be communicated to all registered participants one month prior to the start of the Conference. AgroInsurance Team is looking forward to meeting you in Tbilisi, Georgia in October 2021! Official web page: Place for venue: Dates: Conference Organizer: Conference Manager: Conference Administrator: Contact phone: Contact email: www.agroinsconf.com Biltmore Hotel Tbilisi, Georgia October 4-6, 2021 AgroInsurance International LLC. – www.AgroInsurance.com Ian Shynkarenko Liudmyla Krychevska +995 599 3 777 01 admin@agroinsurance.com Source – www.agroinsurance.com

17.10.2019

USA - Colorado’s largest cannabis grower loses millions of dollars in early freeze

The largest marijuana grower in Colorado – Pueblo-based Los Sueños Farms – disclosed it lost millions of dollars during an early winter storm after half the company’s plants froze before harvest could be completed. The crop loss in Southern Colorado is expected to send ripples throughout the state’s cannabis supply chain, reducing the supply of marijuana available to retailers and processors. Those businesses could face higher wholesale cannabis prices. By contrast, extractors could benefit by getting access to additional plant material to manufacture goods such as infused products, edibles and concentrates. With 36 acres in outdoor production, plus an indoor cultivation operation, Los Sueños touts itself as the largest cannabis farm in North America. The company has been harvesting hundreds of thousands of pounds of biomass for five years. “It was going to be a huge, bumper year,” Los Sueños founder Bob DeGabrielle said. “Unfortunately, you can’t do anything about Mother Nature.” With the loss of this magnitude, there will likely be a shortage of flower in an already tight wholesale marijuana flower market. “This is definitely going to affect the entire state’s supply,” said Joshua Haupt, chief revenue officer with Denver-based Medicine Man Technologies. Medicine Man Technologies is in the process of acquiring Los Sueños Farms for $11.9 million. Los Sueños customers had relied on the company for a value-oriented product. But the Oct. 10 storm has put a major crimp on that product pipeline, said DeGabrielle. He said his company supplies biomass for processing for infused-products cannabis companies such as Wana Brands, Dixie Brands and Evolab, among others. All are based in Colorado. DeGabrielle expects processors buying trim will be under pressure to pay higher prices because a lot of what Los Sueños will be selling on the processing market is now high-potency flower, which commands a higher price point. Storm damage The Los Sueños crew was able to cut down about 50%, or 20,000, of a total of 40,000 plants before eight hours of subfreezing temperatures damaged the crop. The area was also blanketed with several inches of snow. DeGabrielle said he was looking at a yield that would have been two to three times bigger than his previous record. But the weather dashed those hopes. To save the crop, it was all-hands-on-deck to help with the harvest once it began snowing. One problem, however: Los Sueños’ greenhouses and hoop houses were already filled with drying plants that had been cut down starting in late September. As a result, the company had little additional storage space. “There was no place else to put much more product,” DeGabrielle added. His crew covered plants with blankets. But 50-mph winds blew off the blankets. The crew also ran hot water into the fields to keep the root mass warm. “We did everything we could do to mitigate what was happening,” DeGabrielle said. According to DeGabrielle, this is the second time in 33 years he has seen such a snow and freeze before Halloween. Crop salvage While the remaining material won’t be sold on the flower market, the company can salvage the biomass and sell it for extraction. DeGabrielle estimated he would have harvested 750,000 pounds of biomass before the storm, and it’s too early to tell what the final numbers will be until everything is harvested. He still needs to process the other 20,000 plants. “It’s kind of like, until the baby comes, how much is it going to weigh?” he said. Despite everything, DeGabrielle expects the yield to come in about 25% better than last year. Workers will be harvesting plants for the next two weeks. After the freeze, DeGabrielle took some plants out of the field and dried them. The biomass tested at 18%-24% THC content. That’s significantly higher than most trim, which tests in the 6%-8% range, according to DeGabrielle. He chalks it up to the majority of the remaining plant material coming from flower, not leaves, which died in the freeze. DeGabrielle emphasized that this isn’t a total loss. “We had some beautiful crops,” he said. “And of what we got we have some beautiful bud to sell.” Source - https://mjbizdaily.com

01.05.2019

Hail world records: the biggest, heaviest, and deadliest hail

Hail is one of the biggest hazards with severe thunderstorms – while it is usually small, and relatively harmless, it may grow to tennis ball sized or even larger. It may cause severe damage, injuries and in extreme cases even death. It forms as super cooled water droplets within a thunderstorm updraft begin freezing onto a condensation nucleus. The super cooled droplets are colder than 0 °C, but still in liquid state. As they come into contact with the growing hailstone they freeze onto it, making it grow. The growing hailstone is kept in the air by the storm’s updraft until it grows too big and heavy for the upward wind to keep it aloft. The hailstone may make a single journey within the updraft, or it may make several journeys, each forming a new layer, producing a concentric onion-like structure. Some hailstones form and grow by many smaller hailstones sticking and freezing together into a large hailstone – such form is called an agglomerate. The largest hailstones sometimes even form long icy horns or spines! The most severe hailstorms and largest hail is usually associated with supercell thunderstorms – it takes high to extreme instability, strong wind shear and dry mid levels for very large hail to form. But just how big and heavy? Read on. LARGEST (DIAMETER) HAILSTONE EVER RECORDED: July 23, 2010 Vivian, South Dakota A 20.3 cm (8.0 inch) hailstone was recorded in the intense hailstorm produced by the July 23, 2010 Vivian, South Dakota severe supercell. The hailstone was found by a Mr. Lee Scott and turned over to the U.S. National Weather Service for certification in Aberdeen, South Dakota. The hailstone had a circumference of 47.3 cm (18.625 inches) and a weight of 0.88 kg (1.9375 pounds)! It even produced an impact pit about 25 cm across on the ground. NWS Aberdeen staff measuring the diameter and circumference of the record-setting hailstone. Note that the ruler is in inches! Photo: NWS Aberdeen. There are other, unconfirmed instances of similarly sized hail reported in the past – Ponca City, Oklahoma is reported have been hit by up to 20-cm hail on April 17, 1935. LARGEST (CIRCUMFERENCE) HAILSTONE EVER RECORDED: June 22, 2003 Aurora, Nebraska A 47.6 cm (18.75 inches) circumference hailstone was recorded on June 22, 2003 on a severe thunderstorm that hit Aurora, Nebraska. The hailstone was 17.8 cm (7.0 inches) in diameter, but no weight was officially recorded as the hailstone partially broke off as it hit a roof of a house. It is very noteworthy, that the hail that hit Hamilton County (including Aurora) produced impact pits on the ground up to 36 cm across! Imagine a melon-sized chunk of ice falling out of the sky? Punching a hole in your car windshield? Your roof? Breaking bone? Hail is one of the biggest hazards with severe thunderstorms – while it is usually small, and relatively harmless, it may grow to tennis ball sized or even larger. It may cause severe damage, injuries and in extreme cases even death. It forms as super cooled water droplets within a thunderstorm updraft begin freezing onto a condensation nucleus. The super cooled droplets are colder than 0 °C, but still in liquid state. As they come into contact with the growing hailstone they freeze onto it, making it grow. The growing hailstone is kept in the air by the storm’s updraft until it grows too big and heavy for the upward wind to keep it aloft. The hailstone may make a single journey within the updraft, or it may make several journeys, each forming a new layer, producing a concentric onion-like structure. Some hailstones form and grow by many smaller hailstones sticking and freezing together into a large hailstone – such form is called an agglomerate. The largest hailstones sometimes even form long icy horns or spines! The most severe hailstorms and largest hail is usually associated with supercell thunderstorms – it takes high to extreme instability, strong wind shear and dry mid levels for very large hail to form. But just how big and heavy? Read on. LARGEST (DIAMETER) HAILSTONE EVER RECORDED: July 23, 2010 Vivian, South Dakota A 20.3 cm (8.0 inch) hailstone was recorded in the intense hailstorm produced by the July 23, 2010 Vivian, South Dakota severe supercell. The hailstone was found by a Mr. Lee Scott and turned over to the U.S. National Weather Service for certification in Aberdeen, South Dakota. The hailstone had a circumference of 47.3 cm (18.625 inches) and a weight of 0.88 kg (1.9375 pounds)! It even produced an impact pit about 25 cm across on the ground. NWS Aberdeen staff measuring the diameter and circumference of the record-setting hailstone. Note that the ruler is in inches! Photo: NWS Aberdeen. There are other, unconfirmed instances of similarly sized hail reported in the past – Ponca City, Oklahoma is reported have been hit by up to 20-cm hail on April 17, 1935. LARGEST (CIRCUMFERENCE) HAILSTONE EVER RECORDED: June 22, 2003 Aurora, Nebraska A 47.6 cm (18.75 inches) circumference hailstone was recorded on June 22, 2003 on a severe thunderstorm that hit Aurora, Nebraska. The hailstone was 17.8 cm (7.0 inches) in diameter, but no weight was officially recorded as the hailstone partially broke off as it hit a roof of a house. It is very noteworthy, that the hail that hit Hamilton County (including Aurora) produced impact pits on the ground up to 36 cm across! NWS Hastings staff measuring the diameter and circumference of the Aurora, Nebraska hailstone. Again, the ruler is in inches! Photo: NWS Hastings. HEAVIEST HAILSTONE EVER RECORDED: April 14, 1986, Gopalganj district, Bangladesh The heaviest hailstone that has been authenticated by authorities fell during an intense severe hailstorm in Gopalganj district of Bangladesh on April 14, 1986. It weighed in at 1.0 kg (2.25 pounds)! The intense hailstorm killed 92 people. In Europe the record is held by an large, 0.97 kg hailstone that fell in Strasbourg, France on August 11, 1958 – unfortunately no dimensions were recorded. BIGGEST HAIL ACCUMULATION ON THE GROUND EVER RECORDED: June 3, 1959, Seldon, Kansas A persistent, virtually stationary hailstorm hit Seldon, Kansas on June 3, 1959, producing a blanket of hail up to 45 cm thick over an area of 140 square kilometers. Aerial view of the 45 cm thick blanket of hail over Seldon, Kansas on June 3, 1959. Photo: Norton Telegram, Norton, Kansas. DEADLIEST HAILSTORM: April 22, 1888, Moradabad & Beheri districts, India The April 22, 1888, Moradabad & Beheri districts, India is the deadliest hailstorm in recorded modern history, with 246 fatailities. Source - http://www.severe-weather.eu

30.04.2018

Post Conference Press Release from the 4th International Conference “Agricultural Insurance, Reinsurance and Brokerage in the CIS, Europe and Asia” - Belgrade, Serbia

Discussions centered around the following key topics: technical aspects of crop and livestock insurance; the use of agricultural insurance in the banking industry - agricultural bancassurance; underwriting principles in agricultural insurance; the use of modern technology (satellites and drones) in the development and implementation of innovative insurance solutions. 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. The event program centered around an overview of agricultural insurance markets in Central and Eastern Europe, CIS countries, Southeast Asia and Australia. The presentations focused on discussing ways to improve insurance products available on these markets and to better meet the needs of farmers and government institutions. One presentation that deserves a special mention dealt with the specifics of the evolution of agricultural insurance in the Philippines, Indonesia and Vietnam. It was made by a representative of the German Development Cooperation, GIZ. The presentation discussed specific features of the evolution of public-private partnerships in these countries, the instruments that are commonly used and their role in the development of comprehensive agricultural risk insurance programs. Another section dealt with the finer nuances of agricultural bancassurance development, drawing upon the experience of Serbia and other Central European countries as an example. Delegates from insurance giants Generali, Banca Intesa and Aon brought to light important technical aspects of implementing joint initiatives in bancassurance, underwriting and program administration. The first day concluded with a discussion about technical details of the development and implementation of systemic risk insurance programs. Special emphasis was placed on discussing ways to address drought insurance. Swiss Re and Munich Re spoke about solutions and innovations that are already available to effectively tackle this issue. The section on systemic risks discussed livestock disease and disease containment insurance using Canada as an example. The second day was dedicated to the importance of adopting new technology and innovations, such as satellites and drones. These technologies are more and more commonly used around the world in crop surveillance and agricultural insurance loss adjustment. Every year they also become more and more affordable for insurance companies. Technology and innovations are now commonly used in crop insurance underwriting and risk event probability assessment to calculate insurance rates. The second day concluded with a panel discussion on the use of modern technology in agricultural insurance. Attendees addressed the challenges of adopting and implementing new technologies and innovations, as evidenced by examples of several technologies being brought together on a single platform combining self-learning AI systems and block chain technology. Companies promoting technical innovations on international markets were particularly keen to hear feedback from agricultural insurance experts to gauge market response and further refine existing technology. Innovative technology is not a distant future concept at all, but something that is already being effectively used on a day-to-day basis by agricultural insurance market players. Summary The International Conference “Agroinsurance and Reinsurance of Agricultural Risks in the CIS, Europe and Asia” has provided an important platform for enhancing cross-sectoral communication and collaboration among agricultural insurance experts all over the world. The high number of participating countries and organizations fosters an extremely productive exchange of ideas and technical information. Delegates have engaged in numerous meetings and negotiations, which enabled many to gain new knowledge and enhance their understanding of various technical aspects of agricultural insurance. Given the feedback received from 2018 conference participants, Agroinsurance International is likely to continue such events in 2019-2020 with the aim of further promoting agricultural insurance development in emerging countries. For updates on future events, please visit the conference organizers’ website www.agroinsurance.com. Re-printing is allowed strictly on the condition that all subsequent publications contain a link to the source - www.AgroInsurance.com. All photos from the event are property of Agroinsurance International LLC and can only be reproduced if they contain the Agroinsurance International logo. About Agroinsurance International Our team has been professionally involved in agricultural insurance since 2001. The website www.AgroInsurance.com was created in 2006 and to this day remains the world's largest online portal on agricultural insurance and risk management. Since its inception in 2006, the project has been working with reinsurance and insurance companies in the CIS, Europe and Asia. Over the lifespan of the project, our team members have seen through to completion numerous consulting assignments for private companies and government agencies in Ukraine, Russia, Moldova, Georgia, Armenia, Albania, Serbia, Kosovo, Mongolia, China and other countries. Altogether, Agroinsurance International experts have delivered more than 400 training sessions on agricultural insurance and agricultural risk management for insurance and banking professionals and government employees around the world. Source - www.agroinsurance.com