The CBIRC will launch a three-year action plan to introduce agricultural insurance risk zoning, according to Mr Liang Tao, CBIRC vice chairman.
A new insurance initiative has been started aimed at helping smallholder farmers in Bangladesh who are particularly vulnerable to extreme weather events.
The Congress Party has demanded that the government declare locust attacks in the country as a natural disaster and farmers be given compensation under the crop insurance scheme.
Bima Mandi, an InsurTech launched in India, will focus exclusively on rural markets and make available specific products catering to this segment of the population.
The Indonesian government is expanding a micro insurance scheme for fish farmers, in order to minimise risks being faced by small-scale aquaculture producers.
The lack of data on crops, pests and related agricultural matters, is one challenge facing the agricultural insurance segment, according to the Insurance Federation of Egypt (IFE) which is working to develop this class of insurance.
The CBIRC has set out requirements for insurers which provide agricultural insurance, covering matters such as specialist staff and minimum solvency ratios.
The Ministry of Agriculture and Rural Affairs and the CBIRC have issued a joint notice on promoting reform of the fishery mutual insurance system. The goal is to accelerate and ensure the professional development of the system.
India is facing its worst threat from locusts in almost 26 years as huge swarms have destroyed over 50,000 hectares of agriculture land in seven states and moving rapidly further into the countryside.
Recent news that Zhongyuan Agricultural Insurance's general manager Jiang Hua has resigned, and moved to Ping An has fuelled speculation that Ping An plans to set up an agricultural insurance company.