SCOR acquires control of AgroBrasil Administração e Participações Ltda (“AgroBrasil”), Brazil’s family-owned leading Managing General Agent distributing fruit and grain loss of crop quality and yield insurance protection to Brazilian farmers. This transaction marks an important milestone in SCOR’s Specialty Insurance strategy: As part of its “Quantum Leap” strategic plan, SCOR committed to developing a… Continue reading SCOR Acquires A Majority Stake in AgroBrasil
Tag: crop insurance
USDA Announces Details of Risk Management Programs for Hemp Producers
The U.S. Department of Agriculture (USDA) announced the availability of two programs that protect hemp producers’ crops from natural disasters. A pilot hemp insurance program through Multi-Peril Crop Insurance (MPCI) provides coverage against loss of yield because of insurable causes of loss for hemp grown for fiber, grain or Cannabidiol (CBD) oil and the Noninsured… Continue reading USDA Announces Details of Risk Management Programs for Hemp Producers
USDA Announces Pilot Crop Insurance for Hemp Growers
Michigan hemp growers are among those in 21 states in 2020 who will be eligible for a new crop insurance option through USDA’s Risk Management Agency (RMA) in selected counties. The pilot insurance program will provide Actual Production History (APH) coverage under 508(h) Multi- Peril Crop Insurance (MPCI) for eligible producers. In addition to Michigan,… Continue reading USDA Announces Pilot Crop Insurance for Hemp Growers
A Wet Year Causes Farm Woes Far Beyond the Floodplains
The damage from the destructive spring flooding in the Midwest has been followed in parts of the country by a miserable autumn that is making a bad farming year worse, with effects that could be felt into next spring. Even the widespread flooding in the spring was worse for many farmers than the images of… Continue reading A Wet Year Causes Farm Woes Far Beyond the Floodplains
USDA Grants Second Delay in Crop Insurance Premium Due Dates
To help farmers whose cash flow suffers from a long and late harvest this year, the USDA announced this week that most growers will now have until January 31 to make interest-free crop insurance premium payments on spring-planted crops. That’s well beyond the normal date of October 1 when payments due on September 30 start… Continue reading USDA Grants Second Delay in Crop Insurance Premium Due Dates
AIR Worldwide Releases Multi-Peril Crop Insurance Model for India
Catastrophe risk modeling firm AIR Worldwide (AIR) today announced that it has released a Multiple Peril Crop Insurance (MPCI) Model for India to help support probabilistic assessments of potential losses caused by yield shortfalls for 11 major crops across the two main India crop-growing seasons. AIR Worldwide is a Verisk business. The MPCI Model for… Continue reading AIR Worldwide Releases Multi-Peril Crop Insurance Model for India
Floods Swamp U.S. Farm Belt
The wettest year on record is raising costs for the nation’s biggest agricultural companies, stalling farmers’ fieldwork and slowing shipments across the U.S. Farm Belt. “It’s got to be the worst ever that we’ve seen,” said Jim Collins, head of Corteva Agriscience, the agricultural division of seed and pesticide maker DowDuPont Inc. Corteva’s sales fell… Continue reading Floods Swamp U.S. Farm Belt
Great American Insurance Group Unveils Crop Insurance Mobile App for Growers
Great American Insurance Group’s Crop Division unveiled its first-ever, stand-alone mobile application built specifically for its policyholders—the growers. The GreatAg® Grower Mobile app (Grower Mobile) offers a variety of functionality for policyholders. The simple-to-use mobile platform allows growers to report acreage and production to their agent, submit notices of loss, access claims and policy information,… Continue reading Great American Insurance Group Unveils Crop Insurance Mobile App for Growers
WorldCover Raises $6M Round for Emerging Markets’ Climate Insurance
WorldCover, a New York and Africa-based climate insurance provider to smallholder farmers, has raised a $6 million Series A round led by MS&AD Ventures. Y Combinator, Western Technology Investment and EchoVC also participated in the round. WorldCover’s platform uses satellite imagery, on-ground sensors, mobile phones and data analytics to create insurance options for farmers whose… Continue reading WorldCover Raises $6M Round for Emerging Markets’ Climate Insurance
Tokio Marine’s ProAG to Acquire AmTrust Crop MGA
Producers Ag Insurance Group (ProAg), part of the specialty insurance group Tokio Marine HCC, is to acquire crop managing general agent AmTrust Agriculture Insurance Services (AmTrust Ag), a subsidiary of AmTrust Financial Services. AmTrust Ag is headquartered in Kansas, US and manages multi-peril crop, crop hail, livestock and named crop peril insurance. Its products are… Continue reading Tokio Marine’s ProAG to Acquire AmTrust Crop MGA