Market Industry operators primarily provide crop insurance, which protects against the loss of crops due to natural disasters, as well as the loss of revenue due to declines in agricultural commodity prices. The federal government is heavily involved in the industry, subsidizing farmers’ insurance premiums and providing reinsurance to industry operators. Losses among various types of crops and in various geographies are often highly correlated, leading to large systemic effects from natural disasters.
Increasing natural calamities destroying farmlands and consequently hampering the agriculture output, as well as the income of farmers across the world, has resulted in driving the awareness regarding the benefits offered by agriculture reinsurance.
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Companies Profiled in this Report Includes:
Rural Community Insurance Agency Inc.
QBE Insurance Group Limited
American Financial Group Inc.
Sompo Holdings Inc.
CGB Enterprises Inc.
Farmers Mutual Hail Insurance Company of Iowa.
Crop Insurance Company of India
The People’s Insurance Company (Group) of China
Perpetual demand for food from the ever-rising population of the world has put a lot of pressure on increasing agriculture yields. Factors such as seasonality and other uncontrollable environment issues in tandem with downward pressure on food prices result in low-profit margins for the farmers. Crop Insurance has been developed as a safety net by a council of leading governing bodies across to world to protect farmers and combat food security concerns for the burgeoning population of the world.
Agriculture is one of the main contributors to GDP of several economies across the world including India, China, and the U.S. These countries, whose main source of economy is agriculture, are facing myriad risks in production due to which agro insurance has emerged as a risk management tool for farmers, agricultural producers, and other stakeholders. Crop Insurance includes crop insurance as well as it covers aquaculture, livestock, bloodstock, forestry, and greenhouse.
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Key segmentations of Crop Insurance market
Distribution channel overview, 2019 – 2026
Insurance type overview, 2019 – 2026
The competitive landscape of the global Crop Insurance market has been defined with comprehensive analysis. Also, researchers throw light on some small scale and medium scale industries to differentiate the strategies carried out by them. Furthermore, it highlights the major key players operating across the global regions like North America, Latin America, Asia-Pacific, Africa, and Europe.
Who should buy this report?
> Private insurance companies, agencies, cooperative organizations etc. who want to expand their product assortment.
> Government organizations and agricultural departments who can take decisions related to subsidies to agricultural producers.
> Educational institutions and universities for studies in the field of agriculture and commerce.
> Executives of agricultural products manufacturing companies as well as companies that are engaged in the supply of raw materials and distribution & supply to make strategic investments for faster ROI.
> Venture capitalist looking into investing capital for turnkey projects for agriculture insurance.
The demand within the global market for Crop Insurance industries has been rising due to the several approaches like index-based insurance segment will account for highest growth in the market. It covers altered aspects of the businesses and represented by using several graphical presentation techniques such as graphs, charts, pictures, and diagrams.
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