China Agricultural Model
China mainland has the largest livestock and forestry insurance portfolio in the world and also boasts the second-largest market for agriculture insurance after the U.S. As the market continues to develop and evolve, deeper understanding has never been more important. The RMS® China Agricultural Model can help close the insurance coverage gap and accurately measure crop, livestock, and forestry risks at a country level consistent with the insurance coverage in China mainland.
India Agricultural Model
India is the largest market for weather and yield index-based agriculture insurance schemes. The agricultural land in India relies on rainfall for irrigation. Being rain-fed, the area is also at increased likelihood of monsoon rainfalls. If not measured accurately, this poses a huge challenge for insurers and reinsurers. The RMS® India Agricultural Model covers weather (WBCIS) and yield (mNAIS, currently operated within PMFBY scheme) index-based insurance contracts at the district level.
Regional and Country Agriculture Models
Coming Together to Build a Resilient India Agriculture Insurance Sector
India is an agricultural powerhouse, ranked second in the world in terms of its level of agricultural output. With 58 percent of the rural population of India reliant on agriculture for their livelihood (and a total figure of 2.2 billion across Asia) plus more than fifty percent of total working population of India employed in the food industry, ensuring that farmers are resilient and can rebuild after crop setbacks is a top priority for the country. This…
Addressing the Challenges in Assessing Livestock Insurance Risks
This article was originally published in Insurance Day, click here to view the original article. Livestock insurance represents a significant part of global agriculture premium. Traditional indemnity insurance products are available, complemented with less common products like parametric index insurance. Managing livestock insurance is a complex business, as livestock mortality is a recurring event. China is one of the biggest players as the…
This report provides insurers interested in reinsuring crop business schemes in India with an overview of the (re)insurance market.
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