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Agriculture insurance market: Risk modelling to support growth boost

Source: Asia Insurance Review | Jan 2014

India is about to become the fourth-largest crop insurance market globally in moving from a partly government loss-subsidising market to a full private-public partnership. Complex indices, a large variety of insured crop types and inherent drought exposure are causes of increasing concerns in the industry on the back of above-normal losses last year. Ms Sonia Rawal from Asia Risk Centre explains how risk modelling can help insurers, reinsurers and state governments in the country to understand and manage catastrophe risks in agriculture.

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