The Securities and Exchange Commission of Pakistan (SECP) has stressed the crucial need for agricultural insurance in Pakistan which currently accounts for only 2% of the total non-life sector premiums.
The National Financial Regulatory Administration (NFRA) has released guidelines for promoting the development of inclusive insurance to better meet the needs of the people and the real economy.
Global Insurance Law Connect's Risk Radar 2024 identified cyber security and Nat CAT linked to climate change and cyber security as challenges facing insurers in India this year.
Non-life insurers have agreed to resume farm insurance business after the government gave them its commitment to settle NPR970m ($7.3m) in premium subsidy arrears as soon as possible.
China's Finance Ministry has announced the nationwide implementation of full-cost insurance and planting income insurance policies for rice, wheat and corn, which are the country's staple grains. The scheme took effect on 21 May, the date of the announcement.
Aon has appointed Dr Wen Chen as head of agriculture in APAC. In her new role, she will continue to build upon Aon's successes in the dynamic agriculture sector, while exploring new reinsurance and retrocession opportunities and delivering differentiated capabilities across a range of dynamic and competitive market environments.
The Caisse Nationale de Mutualité Agricole (CNMA), which dominates the agricultural insurance market, is preparing to launch "very soon" a product covering crops for climate change risks, such as drought and floods.
Climate change and land-use change could become the main drivers of biodiversity decline by mid-century according to a new study.
Sunlight Agricultural Mutual Insurance (SAM) is highly exposed to catastrophe risk in Heilongjiang province, particularly flooding and drought, given its high business concentration in agricultural insurance and Heilongjiang, says Moody's Ratings.
Saline intrusion and drought in the Mekong Delta region of Vietnam could cause $2.82bn in agricultural losses over a 10-year period according to a recent survey.