The government-backed crop insurance scheme Pradhan Mantri Fasal Bima Yojana (PMFBY) has turned profitable in the first quarter of FY2019 (April to June 2018) after bleeding for two years. Better pricing coupled with low claims have led to underwriting profits in crop insurance.
China has included the production of rice, corn and wheat seeds into a fiscal subsidy programme for agricultural insurance.
The heat wave which has hit Algeria since mid-June has caused farmers heavy losses, particularly in seasonal fruit crops. Grape, melon, peach and some citrus fruit, such as lemon, are the hardest hit by high temperatures
The Indian government has decided to issue new guidelines to make the national crop insurance scheme - Pradhan Mantri Fasal Bima Yojana (PMFBY) - more efficient.
Only 13% of grain growers are considering multi-peril crop insurance (MPCI), despite the constant threat of drought, wind, frost or disease slashing their income.
The Modi government's ambitious crop insurance scheme earned around 85% profit, excluding expenditure on administrative purposes and reinsurance, during the 2017-18 kharif (monsoon) season, government data show.
About 28 million rai of rice farmland operated by 1.91 million farmers is insured for the 2018 crop year, the chief of the Bank for Agriculture and Agricultural Cooperatives (BAAC) has said. The area under coverage represents nearly half of total rice acreage in Thailand.
Insurance broker Hamdi Abdel Mawla has called for reform of the Livestock Insurance Fund, which is under the Ministry of Agriculture.
Agricultural insurance will soon become an important mechanism for risk mitigation in South Asian countries where the low-income small farmers are highly vulnerable to the vagaries of nature resulting in distress and suicides during droughts and crop failure. We speak to Dr Olena Sosenko, specialist and adviser on agriculture insurance on the path ahead for these South Asian economies and the critical role of agriculture insurance.
Bangladesh experiences frequent droughts, flooding and cyclones that take a heavy toll on the farming community, whose livelihoods are affected causing distress and social unrest. To address the impacts of these climatic events, ADB launched a pilot crop insurance scheme in Bangladesh in March 2014 to support the most vulnerable marginal farmers.