Australia is ranked among the world's top eight wine-producing countries, and contributes more than A$45bn ($29.4bn) annually to the national economy.
The InsuResilience Solutions Fund (ISF) has announced, in statements issued earlier this month, that it is supporting agricultural insurance in Ethiopia and Togo, as the agricultural sector is increasingly vulnerable to increasing climate-related risks such as droughts, excess rainfall, river flooding and extreme heat.
Around four in 10 (38.6%) of farmers in Turkiye are covered by insurance while 17% of agricultural land in the country is insured, according to data from the Ministry of Agriculture and Forestry.
The Federation of Egyptian Insurance Companies (FEIC), has named several pillars for expanding agricultural insurance coverage in Egypt, particularly among small farmers.
The SAFCO Microfinance Company and Asia Insurance Company have signed a service level agreement to launch a bundled livestock protection and social benefit programme in the country.
A high-level economic reforms committee formed by the Nepalese government has suggested that the insurance premium should be determined by the market in a competitive manner.
The UNDP with the General Insurance Association of Indonesia (AAUI) has launched the Agricultural Insurance Roadmap 2025-2030 to improve risk financing and inclusiveness for smallholder farmers.
These are the updates on insurance regulation across China this week.
On March 3, the National Financial Regulatory Administration (NFRA) announced China's agricultural insurance premium income reached approximately CNY150bn ($20.64bn) in 2024, providing over CNY5tn in risk protection. This makes China the world's largest agricultural insurance market by premium size.
The central authorities have issued a notice advising that they would reduce subsidy rates relating to agricultural insurance premiums in major grain-producing counties.