The Strategy and Budget Office (SBO) of the Turkish Presidency has estimated total damages in the agriculture sector at around TRY24.2bn ($1.3bn) arising from the destructive 6 February earthquakes in southern Turkiye.
Dr Islam Azzam, vice chairman of the Financial Regulatory Authority (FRA), has said that the draft comprehensive insurance law is scheduled to be discussed in the plenary session of the House of Representatives within two months.
A heatwave in the northern and central parts of India is threatening to deleteriously impact wheat crop production in the country for the second year in running. India is the world's second biggest wheat producer.
The insurance industry can contribute to the sustainable transition of marine-related business and support conservation of the marine environment. But developing blue insurance in China means first addressing the triple challenges of technology, law, and policy, says Ms Chen Qianming is a researcher at the International Institute of Green Finance, Central University of Finance and Economics, Beijing.
The Insurance Association of China (IAC), as a self-regulatory body, has for the first time issued guidelines for the insurance industry relating to product development in the field of agricultural insurance.
TARSIM (Agricultural Insurance Pool) has kicked off 2023 with a slew of incentives in crop, livestock and other agricultural insurance lines.
The Insurance Association of China (IAC) has released a set of rules for the crop, livestock and forestry sectors (collectively termed as the agricultural sector). This is the first time that the insurance industry is standardising agricultural insurance underwriting and settlement processes as part of its system of self-regulation.
The government has announced the products and premium rates to be covered by the Agricultural Insurance Pool (TARSIM) next year.
The government is restructuring its flagship crop insurance scheme, the Pradhan Mantri Fasal Bima Yojana (PMFBY), through measures including the use of artificial intelligence (AI)-based technologies for the timely assessment of crop yield data for prompt claims settlement and the introduction of competitive bidding by insurers.
NongHyup Property and Casualty Insurance Company (NH P&C) has posted an adequate operating performance, with a weighted five-year average operating ratio of 97.4% (2017-2021) and a return-on-equity ratio of 4.4%, notes AM Best.