The Agriculture and Rural Development has drawn up plans to revamp agricultural insurance in the country from the central down to the local level, according to Mr Le Minh Hoan who heads the ministry.
Four government bodies have jointly issued the "Notice on Promoting Accurate Insurance and Claims Settlement for Agricultural Insurance and Related Matters" to elevate standards in agricultural insurance.
Bundling agricultural credit with agricultural insurance has emerged as a promising strategy to mitigate climate-related lending risks related to smallholders, according to researchers.
Researchers have used machine learning to design a more cost-efficient insurance contract that could better protect farmers against weather risks arising from climate change.
The National Assembly Standing Committee on Commerce last week approved a proposal to divest 20% of the State Life Insurance Corporation of Pakistan (SLIC), the country's biggest life and health insurance company.
The Insurance Association of China (IAC) has released the 2024 edition of the "Blue Book on High-Quality Insurance Services for Rural Revitalisation", which provides an update on the work of insurers in rural areas.
The government is conducting feasibility studies focused on legal procedures, operations and the cost of establishing a national agriculture insurance scheme.
Agricultural insurance will gradually play an important role in Vietnam in which more than 60% of the population live in rural areas and are largely dependent on agricultural production, according to Mr Ngo Trung Dung, Insurance Association of Vietnam (IAV) deputy secretary-general.
The Central Commission for Discipline Inspection (CCDI) of the Communist Party of China and the state's National Supervision Commission (NSC) have pointed out problems with agricultural insurance claims, including fraud, discrepancies in funds, and delays in post-disaster claim payments, in many parts of the country.
The Insurance and Pensions Commission (IPEC) is spearheading the development of agricultural insurance to improve smallholder farmers' access to suitable and affordable coverage.