Myanmar will launch an insurance policy covering livestock insurance for the first time in 30 years.
Extreme weather conditions resulting in severe drought and rainfall are the new normal and insurers will need quickly to factor in this risk to their products and come out with new products that will cover the risks arising from extreme climatic conditions.
The Philippine Insurers and Reinsurers Association (PIRA) is optimistic about opportunities to expand microinsurance, which could improve insurance penetration in the country.
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.