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.
Agricultural insurance in China saw a slowdown in premium growth, increasing by only 6% year-over-year in the first half of 2024, with some provinces seeing declines of 20-30%.
The protection gap in the agricultural sector in Africa has given rise to a new, innovative solution -- parametric insurance, says Mr JP Fabri, an economist and co-founder of the Malta-based advisory firm Seed Consultancy and MyUbuntu.
The National Agricultural Mutual Fund (CNMA) has announced that it would launch a new product for investors and farmers to insure their daily or seasonal workers hired during the various agricultural seasons for short periods.
The Insurance and Pensions Commission (IPEC) is drafting a regulatory framework to implement agricultural index-based insurance that will provide insurance solutions for smallholder farmers vulnerable to climate change.
Ghana has been unable to upscale the newly set-up Agricultural Insurance Fund even though the pool started well, according to Mr Kofi Andoh, the acting Commissioner of Insurance.
InsureCow, a provider of livestock insurance and management services which was founded in 2022, is expanding its reach across Bangladesh, with plans to venture as well into other emerging markets.
Global Parametrics, a CelsiusPro Group company, has partnered with One Acre Fund, an agricultural service provider offering financing and training to smallholder farmers, to provide financial protection to such farmers in Zambia and Malawi against the financial strain of losing their crops due to drought.