Methodologies Applied For Monitoring And Reporting The Crop And Plantation Insurance Effectiveness In The Insurance Industry
|
|
- Oliver Johns
- 8 years ago
- Views:
Transcription
1 Methodologies Applied For Monitoring And Reporting The Crop And Plantation Insurance Effectiveness In The Insurance Industry ABDUL HALIM JANTAN CEO, STERLING INSURANCE BROKERS
2 TALK SEQUENCE 1. INTRODUCTION TO MALAYSIAN CROP AND PLANTATION LANDSCAPE 2. WHY A COMPREHENSIVE CROP AND PLANTATION INSURANCE IS REQUIRED 3. ISSUES FACED IN IMPLEMENTING CROP AND PLANTATION INSURANCE 4. MOVING FORWARD
3 INTRODUCTION TO MALAYSIAN CROP AND PLANTATION LANDSCAPE CURRENT INSURANCE MARKET SCENARIO
4 INTRODUCTION TO MALAYSIAN CROP AND PLANTATION LANDSCAPE Currently, there is NO crop insurance scheme available in Malaysia. However, there was a roadmap towards it beginning in 2009 when Datuk Noh Omar, the then Ministry of Agriculture and Agro-based industry, mooted the idea to introduce an insurance scheme for breeders and farmers. In the early phase, the insurance scheme is targeted and will be made available only to paddy farmers but it will be expanded to other agricultural crops eventually. Eventually, the proposal to introduce crop insurance coverage for agriculture farmers was submitted to the Cabinet for approval in In terms of the governing bodies, the proposal has identified that the Ministry of Agriculture would implement the program with the support from the Bank Negara Malaysia as a supporting financial agency. However, there was no detailed information on how the insurance program will be managed and financed.
5 CURRENT INSURANCE MARKET SCENARIO At the moment, our only available option of insuring crops in Malaysia is through the Insurance of Growing Trees which is under the purview of Persatuan Insurans Am Malaysia (PIAM) via its Revised Fire Tariff. All PIAM members are allowed to underwrite the risk on their nett capacity. Hence, data management in relation to crop and plantation insurance is individually managed by the respective members. The perils covered are fire, lightning, animal damage, flood, windstorm, riot, strike, malicious damage and aircraft damage. Cover can be extended to include deliberate burning of undergrowth, plants or trees within the estate. The cover is only applicable to industrial crops i.e. rubber, cocoa and palm oil. However, as the next slide illustrates, Malaysia also produces other crops and plantation products such as rice, tea, tobacco and pineapple.
6 A SNAPSHOT OF CROP AND PLANTATION PRODUCTS IN MALAYSIA Year Natural Rubber Crude Palm Oil Palm Kernel Cocoa beans (raw/roas ted) Coconut Oil (crude & refined) Copra cake Tea Pineapple Rice Tobacco '000 tonne matrix , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , p , , , Source: Department of Statistics Malaysia
7 WHY A COMPREHENSIVE CROP AND PLANTATION INSURANCE IS REQUIRED
8 WHY A COMPREHENSIVE CROP AND PLANTATION INSURANCE IS REQUIRED Given that the Insurance for Growing Trees only covers industrial crops, there is a need for an insurance scheme to cover the other crops, most importantly is paddy. Paddy is a staple food crop in Malaysia and typically grown in areas which are vulnerable to floods. In the past 30 years, floods have caused the worst damage to Malaysian economy. In 2007, the economic damage caused by floods amounted to 0.1% of country s GDP. This can be illustrated in the following slide.
9 ECONOMIC DAMAGE CAUSED BY FLOODS Source : Promoting Risk Financing in the Asia Pacific Region: Lessons from Agriculture Insurance in Malaysia, Philippines and Vietnam
10 WHY A COMPREHENSIVE CROP AND PLANTATION INSURANCE IS REQUIRED Additionally, coverage as provided by the private insurance sector is not sufficient as Malaysian farmers also face other loss exposures such as :- drought crop disease climatic changes pest outbreak reduced rainfall variability of crop production loss of harvest landslide Hence, the need for a comprehensive crop and plantation insurance scheme is crucial, taking into account the impact of the above natural perils that has caused substantial economic loss to the country.
11 ISSUES FACED IN IMPLEMENTING CROP AND PLANTATION INSURANCE
12 ISSUES FACED IN IMPLEMENTING CROP AND PLANTATION INSURANCE 1. High Administrative Costs High costs to have the risk-classification and monitoring systems. Other costs are associated with acquiring the data needed to establish accurate premium rates and conducting claims adjustment. Most studies have reported high cost of implementing crop insurance (as much as approx. USD 275 million per annum).
13 ISSUES FACED IN IMPLEMENTING CROP AND PLANTATION INSURANCE 2. Lack of Statistical Data Currently, data management in relation to crop insurance is individually managed by the respective insurance companies. There is no common platform for data pooling or data management for crop and plantation insurance, unlike the motor insurance which can rely on ISM services for the maintenance of the Central NCD System with the objective to reduce premium leakages within the motor insurance class. With introduction of a similar agency like ISM, relevant data related to crop and plantation insurance can be collated centrally.
14 ISSUES FACED IN IMPLEMENTING CROP AND PLANTATION INSURANCE 3. Skewed Perception Being the backbone of the agriculture industry, the insured (farmers) generally have more knowledge about their own risk profile and probability of losses than the insurer. Therefore, the farmers find themselves being able to discern whether the insurance premium accurately reflects the risk they face. Consequently, only farmers who bear greater risks will purchase the coverage and the insurer are left insuring the higher risk portfolio. Hence, the risk is not well spread and in the event of losses, the likelihood for the indemnities paid will be much higher than the premiums collected. This creates a vicious cycle i.e. the insurers will keep on charging higher premiums on the farmers to recover from the previous huge losses. As such, they believe that the compensation disbursement is complex, unreasonable and unfair.
15 ISSUES FACED IN IMPLEMENTING CROP AND PLANTATION INSURANCE 4. Inadequate Information Some farmers adopt industrial agricultural practices with large farms and these farmers wanted to be covered in order to avoid risks. However, these farmers are not convinced by the way the insurance companies sell their products and the information they get from the insurance marketing channels. It can be said that the farmers lacked knowledge on procedures for buying insurance, claims settlement and the appropriate channel to address their grievances. This require improvements in the way the insurance products are communicated to the prospective insurance buyers and those who have already enrolled in the insurance.
16 ISSUES FACED IN IMPLEMENTING CROP AND PLANTATION INSURANCE 5. Moral Hazard Moral hazard is another problem that lies within the incentive structure of the relationship between the insurer and the insured. After entering the contract, the farmer's incentives to take proper care of the crop diminish, while the insurer has limited effective means to monitor the eventual hazardous behaviour of the farmer. This behaviour might also result in greater losses for the insurer (World Bank, 2005).
17 MOVING FORWARD PROPOSED CROP AND PLANTATION INSURANCE FRAMEWORK
18 MOVING FORWARD 1. Product Must be comprehensive enough to address the coverage requirements of various crop and plantation communities in Malaysia. It should tackle the common perils faced by the farmers, such drought, crop disease, climatic changes, pest outbreak, reduced rainfall, variability of crop production, loss of harvest and landslide.
19 MOVING FORWARD 2. Price A fair pricing mechanism will attract larger percentage of adaptation among the plantation community toward the proposed crop and plantation insurance. Bigger number of subscriptions will ensure a sizable pool of premiums and the spread of risks for the insurer to write the risk at a more competitive level (Economies of Scale). In relation to this, the government could also play a role to influence the price structure via subsidization incentives.
20 MOVING FORWARD 3. Promotion The current proposal on crop and plantation insurance coverage which was submitted to the Cabinet for approval in 2012 needs to be promoted to all parties within the crop and plantation insurance chain, most importantly the end users, i.e. the farmers and breeders.
21 MOVING FORWARD 4. Distribution The marketing channels must be technically sound and capable to assess the risks and requirements of the prospective buyers. They must be able to persuade the farmers to purchase crop insurance as a risk transfer mechanism. In order to create an effective and sound crop and plantation insurance ecosystem, we are proposing the following Crop And Plantation Insurance Framework:-
22 PROPOSED CROP AND PLANTATION INSURANCE FRAMEWORK 1. Government (MOA) 2. BNM Policy Maker To promote large-scale farming To set the relevant policies in the crop and plantation insurance implementation 1. Insurer & Reinsurer 2. Banker 3. Data Management Agencies 1. Direct Marketing 2. Brokers 3. Agents 4. Bancassurance Policy Enforcer The agencies responsible for covering risks To provide financial capacity to the crop & plantation community The agency responsible to administer data related to crop insurance Marketing Channels Marketing is done directly by the insurance companies Work in partnership with the clients to protect the risk Work on behalf of the insurance companies to market the product The product is promoted by bank s channel 1. Farmers 2. Breeders End Users Paddy, tea, tobacco, pineapple and coconut farmers Aquaculture and livestock breeders
23
THE COMMODITY RISK MANAGEMENT GROUP WORLD BANK
THE COMMODITY RISK MANAGEMENT GROUP WORLD BANK Agricultural Insurance: Scope and Limitations for Rural Risk Management 5 March 2009 Agenda The global market Products Organisation of agricultural insurance
More informationJAMAICA. Agricultural Insurance: Scope and Limitations for Weather Risk Management. Diego Arias Economist. 18 June 2009
JAMAICA Agricultural Insurance: Scope and Limitations for Weather Risk Management Diego Arias Economist 18 June 2009 Financed partly by the AAACP EU Support to the Caribbean Agenda The global market Products
More information4 th IAIS/A2ii Consultation Call Agricultural Insurance
4 th IAIS/A2ii Consultation Call Agricultural Insurance The following questions have been received during the 4 th IAIS-A2ii Consultation Call on Agricultural Insurance on June 26 th at 10am and 4pm and
More informationMotor insurance Introduction
Motor insurance Introduction This is an introductory guide to provide you with a better understanding of what motor insurance is and what you must know when buying motor insurance policies and making claims.
More informationHow To Insure Cotton
Crop Insurance in Australia Steven Green Managing Director, Dr. Olena Sosenko Technical Manager Agenda Overview of Australian Agriculture Australian Risks profile Structure of Crop Insurance Market Government
More informationAgriculture Insurance Programs developed with PPP mechanisms case study of Europa Re
IIF 2015 Property Insurance in a Stormy Era Munich, June 22-23 Agriculture Insurance Programs developed with PPP mechanisms case study of Europa Re Marijana Lemic-Saramandic, MSc Country Program Manager
More informationCHAPTER 2 AGRICULTURAL INSURANCE: A BACKGROUND 9
CHAPTER 2 AGRICULTURAL INSURANCE: A BACKGROUND 9 Chapter 2: AGRICULTURAL INSURANCE: A BACKGROUND In Chapter 1 we saw that insurance is one of the tools that farmers and other stakeholders can use to manage
More informationTailoring Agricultural Insurance Products to Developing Countries
Tailoring Agricultural Insurance Products to Developing Countries Ramiro Iturrioz Senior Agriculture Insurance Specialist Insurance for the Poor The World Bank October, 2010 1 Agenda Risk and constraints
More informationConcept Note on Farm Income Insurance: Issues and Way Forward
Farm Income Insurance India, an agrarian economy with 1/3 rd population depending on the agriculture sector directly or indirectly has ~ 116 million farm holdings covering an area of 163 million hectares
More informationA brief and Developments. Pankaj Kumar Tewari Deputy Director, IRDA
A brief and Developments Pankaj Kumar Tewari Deputy Director, IRDA 1 Disclaimer The views expressed in this presentation are my own views and do not in any way reflect the views of the Authority on any
More informationIndonesian Cocoa Beans: current situation
Indonesian Cocoa Beans: current situation I Wayan Yasa Indonesian Cocoa Farmer Association, Indonesian Cocoa Board (ICB) Area and Production The Indonesian cocoa sector has experienced tremendous growth
More informationComparison of different crop insurance models in Nepal. Sunil K. Singh Senior Agriculutural Economist, MoAD
Comparison of different crop insurance models in Nepal Sunil K. Singh Senior Agriculutural Economist, MoAD 1 Outline of Presentation Introduction Risk in Agriculture Tools and technique for minimizing
More informationCONSUMER AWARENESS AND EDUCATION. Driving Forces
CONSUMER AWARENESS AND EDUCATION While the guiding principles in supervising the insurance industry are to ensure an efficient, fair and sound insurance industry, the underlying objective of these principles
More informationImproving farmers access to agricultural insurance in India
International Microinsurance Conference Learning Sessions Daniel Clarke Improving farmers access to agricultural insurance in India 30 June 2011 2010 The Actuarial Profession www.actuaries.org.uk Background:
More informationSPANISH AGRICULTURAL INSURANCE SYSTEM
SPANISH AGRICULTURAL INSURANCE SYSTEM WHAT DOES IT CONSIST OF? IT CONSISTS OF A SYSTEM FOR COVERING DAMAGE CAUSED TO AGRICULTURAL PRODUCTIONS (CROPS AND LIVESTOCK) AND FORESTRY. AS A RESULT OF: UNUSUAL
More informationRisk transfer system for the agricultural sector in Peru. Philine Oft, GIZ Peru
Risk transfer system for the agricultural sector in Peru Philine Oft, GIZ Peru Lessons Learned More than 20 years for public and private initiatives to develop a market for agricultural insurance without
More informationCost & Efficiency Analysis of U.S. Crop Insurance Program: Implications of Additional FSA Responsibilities
Cost & Efficiency Analysis of U.S. Crop Insurance Program: Implications of Additional FSA Responsibilities Executive Summary Prepared for: Informa Economics Phone: 901.766.4669 www.informaecon.com September
More information^mavr` ~r_m {d{z`m_h$ Am a {dh$mg àm{yh$au INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA. ^ ~r {d {d à. Crop Insurance
m m ^ ~r {d {d à ^mavr` ~r_m {d{z`m_h$ Am a {dh$mg àm{yh$au INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA Crop Insurance Contents: 1. About this handbook 1 2. Crop Insurance 2 3. Frequently Asked
More informationLower Rates Mean Lower Crop Insurance Cost 1
Disclaimer: This web page is designed to aid farmers with their marketing and risk management decisions. The risk of loss in trading futures, options, forward contracts, and hedge-to-arrive can be substantial
More informationInsurance Update. May Review. Global news. Increasing importance of Captives in non-traditional risks
Insurance Update May Review Global news Increasing importance of Captives in non-traditional risks A recent study has confirmed that use of captives is becoming more widespread, as the risk managers become
More informationCOMPARISON BETWEEN NATIONAL AGRICULTURAL INSURANCE SCHEME (NAIS), MODIFIED NAIS AND WBCIS PARAMETER NAIS MNAIS WBCIS
REVISED COMPARISON BETWEEN NATIONAL AGRICULTURAL INSURANCE SCHEME (NAIS), MODIFIED NAIS AND WBCIS S. No. PARAMETER NAIS MNAIS WBCIS 1 Insurance Unit Scheme provided for reduction of unit to Village Panchayat
More informationHUMAN RESOURCE DEVELOPMENT IN FOOD-RELATED AREA IN MALAYSIA
HUMAN RESOURCE DEVELOPMENT IN FOOD-RELATED AREA IN MALAYSIA 21-22 JANUARY 2014 JAKARTA, INDONESIA PROF. DR. ABDUL SHUKOR JURAIMI DEAN FACULTY OF AGRICULTURE UNIVERSITI PUTRA MALAYSIA Presentation Outline
More informationAgricultural Outlook Forum For Release: Monday, February 23, 1998 AGRICULTURAL RISK MANAGEMENT AND THE ROLE OF THE PRIVATE SECTOR
Agricultural Outlook Forum For Release: Monday, February 23, 1998 AGRICULTURAL RISK MANAGEMENT AND THE ROLE OF THE PRIVATE SECTOR Joseph W. Glauber Deputy Chief Economist U.S. Department of Agriculture
More informationThis is a licensed product of Ken Research and should not be copied
1 TABLE OF CONTENTS 1. Asia-Pacific Insurance Industry 1.1. Industry Introduction 1.2. Asia-Pacific Insurance Market Size by Direct Written Premium, 2005-2012P 1.3. Asia-Pacific Insurance Market Segmentation
More informationSVRK Prabhakar IGES, Japan. Presented at Asia-Pacific Climate Change Adaptation Forum 2014, 1-3 October 2014, Kuala Lumpur, Malaysia
SVRK Prabhakar IGES, Japan Presented at Asia-Pacific Climate Change Adaptation Forum 2014, 1-3 October 2014, Kuala Lumpur, Malaysia Typical view of disaster recovery: Infrastructure Health Education Transportation
More informationNational Agricultural Insurance Scheme (NAIS) (Rashtriya Krishi Bima Yojana - RKBY)
National Agricultural Insurance Scheme (NAIS) (Rashtriya Krishi Bima Yojana - RKBY) Objectives The objectives of the NAIS are as under:- 1. To provide insurance coverage and financial support to the farmers
More informationMicro Crop Insurance and Protecting the Poor Lessons From the Field
Micro Crop Insurance and Protecting the Poor Lessons From the Field Aaron Oxley CTO, Micro Insurance Agency aaron.oxley@microinsuranceagency.com The Program Who are we an what do we do? Who are the poor?
More informationMitigating catastrophic risk in Australian agriculture
Australia s Leader in MPCI Mitigating catastrophic risk in Australian agriculture Andrew Trotter, Latevo Outlook 2015 Conference Tuesday 3 rd March 2015. 1 Multi-Peril Crop Insurance is now working in
More informationInputs provided by: 1. General description of mandates and objective(s) of your organization / associated network with institutional structure
Inputs provided by: Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH 1. General description of mandates and objective(s) of your organization / associated network with institutional structure
More informationTHE INVOLVEMENT OF GOVERNMENTS IN THE DEVELOPMENT OF AGRICULTURAL INSURANCE
International Journal of Economics, Commerce and Management United Kingdom Vol. III, Issue 6, June 2015 http://ijecm.co.uk/ ISSN 2348 0386 THE INVOLVEMENT OF GOVERNMENTS IN THE DEVELOPMENT OF AGRICULTURAL
More informationThailand s Organic 2011. Vitoon Panyakul Green Net Earth Net vitoon@greennet.or.th
Thailand s Organic 2011 Vitoon Panyakul Green Net Earth Net vitoon@greennet.or.th Brief History (1) 1991 Chai Wiwat Agro-industry & Capital Rice Co started organic rice project 1992 Alternative Agriculture
More informationSVRK Prabhakar IGES, Japan
SVRK Prabhakar IGES, Japan Keynote Presentation at Session on Insurance and risk mitigation strategies: Ensuring recovery after climate-induced loss. At International Conference on Mountain People Adapting
More information4. EVOLUTION OF CROP INSURANCE SCHEMES IN INDIA
4. EVOLUTION OF CROP INSURANCE SCHEMES IN INDIA 4.1 GENESIS OF CROP INSURANCE SCHEMES IN INDIA What a great achievement for Crop Insurance in India i.e. 250 farmers covered in first ever scheme in 1972
More informationSouth East Europe and Caucasus Catastrophe Reinsurance Facility
South East Europe and Caucasus Catastrophe Reinsurance Facility By: Wael Zakout, Manager: Urban, Water and Disaster Management, Europe and Central Asia Region Background information The World Bank UNISDR
More informationบทความว ชาการ. Systemic Risk in the Insurance Sector: A review of current assessment approaches. The Geneva papers on
1 บทความว ชาการ Determinants of Insurance Industry Development in Transition Economies: Empitical Analysis of Visegrad Group Data. The Geneva papers on risk and insurance : issues and practice. Vol.39
More informationBuilding Agribusiness Risk Management System: Strategy and Stages of Development
Building Agribusiness Risk Management System: Strategy and Stages of Development Roman Shynkarenko Agricultural Insurance and Risk Management Consultant Most Ukrainian experts in agricultural risks insurance
More informationAgricultural Insurance for Developing Countries The Role of Governments
Agricultural Outlook Forum Washington D.C. February 22, 2013 Agricultural Insurance for Developing Countries The Role of Governments Speaker José Ángel Villalobos Actuarial Consultant Disaster Risk Financing
More informationIntroductory oil palm IPM discovery learning manual
Introductory oil palm IPM discovery learning manual Project Objective Preparation of an introductory oil palm manual with pest datasheets and producer participatory exercises Brief Project Description
More informationAgriculture and Forestry
Agriculture and Forestry BUSINESS PLAN 2015 18 ACCOUNTABILITY STATEMENT This business plan was prepared under my direction, taking into consideration the government s policy decisions as of October 15,
More informationDRAFT REPORT NOT FOR CIRCULATION. Nigeria. Crop Weather Index Insurance. Pre-Feasibility Study Report. November 2011. The World Bank THE WORLD BANK
DRAFT REPORT NOT FOR CIRCULATION Nigeria Crop Weather Index Insurance Pre-Feasibility Study Report November 2011 The World Bank THE WORLD BANK Table of Contents Executive Summary... iii Context... iii
More informationThe AIR Multiple Peril Crop Insurance (MPCI) Model For The U.S.
The AIR Multiple Peril Crop Insurance (MPCI) Model For The U.S. According to the National Climatic Data Center, crop damage from widespread flooding or extreme drought was the primary driver of loss in
More informationA Brief Review of the Crop Insurance Program in Korea
A Brief Review of the Crop Insurance Program in Korea About the Crop Insurance Program Dohan Song, Ph.D. Director of Financial Research Unit NongHyup Economic Research Institute Seoul, Korea In Korea,
More informationWhy Recommend Fireman s Fund - Prestige Home Product. Personal Insurance Features and Benefits
Why Recommend Fireman s Fund - Prestige Home Product Personal Insurance Features and Benefits Fireman s Fund Personal Insurance Who We Are Our priorities Deliver customized, innovative products and services.
More informationInsurance Risk 101. Pat Teufel, FSA, MAAA Timothy J. Tongson, FSA, MAAA James E. Rech, MBA, ACAS, ASA, MAAA July 9, 2001 RHOB 2220
Insurance Risk 101 Pat Teufel, FSA, MAAA Timothy J. Tongson, FSA, MAAA James E. Rech, MBA, ACAS, ASA, MAAA July 9, 2001 RHOB 2220 Insurance Risk 101 1 Life Insurance Risk 101 Timothy J. Tongson, FSA, MAAA
More informationThe Malaysian Insurance Institute
The Malaysian Insurance Institute (35445-H) 103 Private Medical Insurance Objectives: To develop in the candidate: A knowledge and understanding of the principles and practices of transacting private medical
More informationImportance of Data to give access to agriculture insurance to smallscale farmers, 2 nd African Continental Briefing Nairobi, 14 July, 2014
Importance of Data to give access to agriculture insurance to smallscale farmers, 2 nd African Continental Briefing Nairobi, 14 July, 2014 Agrotosh Mookerjee FIA, Principal Actuary, MicroEnsure AGENDA
More informationImproving the Efficiency of Agricultural Insurance Markets: Policy Experiences
1 Risk Management in Agriculture: Towards Effective Policies OECD Workshop, Paris, November 22-23, 2010 Improving the Efficiency of Agricultural Insurance Markets: Policy Experiences Olivier Mahul Program
More informationDevelopment of agricultural insurance in Russia
Development of agricultural insurance in Russia International Conference Managing risks and crises in agricultural insurance 15th, 16th and 17th of March 2010 Liudmila Kosholkina Director of the Department
More informationCatastrophic Risks and Insurance
Catastrophic Risks and Insurance Problems and Perspectives Prof. Alberto Monti Bocconi University, Milan (Italy) Email: alberto.monti@unibocconi.it VI Conference on Insurance Regulation and Supervision
More informationKeeping the Wolves at Bay Be Informed About Liability Insurance. Farmers Market Boot Camp Program 2013
Keeping the Wolves at Bay Be Informed About Liability Insurance and Sales Taxes Farmers Market Boot Camp Program 2013 Hal Pepper Financial Analysis Specialist Center for Profitable Agriculture Overview
More informationSubmission on Northern Australia Insurance Premiums Taskforce INTERIM REPORT 2015
16 September 2015 Northern Australia Insurance Premiums Taskforce The Treasury Langton Crescent PARKES ACT 2600 Email: NorthernAustraliaInsurancePremiumsTaskforce@treasury.gov.au Submission on Northern
More informationLearnings from Global Best Practices in Agriculture Insurance
Learnings from Global Best Practices in Agriculture Insurance Presented at IFPRI-IIDS Workshop on Best Practices in Agriculture Insurance in South Asia, at Kathmandu, Nepal Presented by: VIJAY SARDANA
More informationNIGERIA S EXPORT TRADE OF AGRICULTURAL COMMODITIES: QUALITY CONTROL AND STANDARDS 2004 PRESENTED
NIGERIA S EXPORT TRADE OF AGRICULTURAL COMMODITIES: QUALITY CONTROL AND STANDARDS 2004 PRESENTED BY MRS. G.M. SASORE SPEECIAL ADVISER/CEO NIGERIAN EXPORT PROMOTION COUNCIL HEADQUARTERS, ABUJA AT THE NIGERIA
More informationNATIONAL INSURANCE BROKERS ASSOCIATION OF AUSTRALIA (NIBA) SUBMISSION TO THE ECONOMIC REGULATION AUTHORITY
NATIONAL INSURANCE BROKERS ASSOCIATION OF AUSTRALIA (NIBA) SUBMISSION TO THE ECONOMIC REGULATION AUTHORITY INQUIRY INTO WESTERN AUSTRALIA S HOME INDEMNITY INSURANCE ARRANGEMENTS ABOUT NIBA 16 August 2012
More informationBiological assets Agricultural produce Products that are the result of processing after harvest
International Accounting Standard 41 Agriculture Objective The objective of this Standard is to prescribe the accounting treatment and disclosures related to agricultural activity. Scope 1 This Standard
More informationAnnex 7. Fact Sheet Estonia
Annex 7. Fact Sheet Estonia 1. Generalities: Some history of the agricultural risk and crisis management policies, programs and tools. Population: 1, 36 million inhabitants GDP 2004 9,4 billion Euro; Inflation
More informationTowards Environmental & Economic Sustainability in Malaysia via Biomass Industry
M A L A Y S I A N B I O M A S S I N D U S T R Y C O N F E D E R A T I O N Towards Environmental & Economic Sustainability in Malaysia via Biomass Industry by TANG KOK MUN 13-FEB-2014 PRESENTATION CONTENTS
More informationSECTOR ASSESSMENT (SUMMARY): CLIMATE CHANGE. 1. Sector Performance, Problems, and Opportunities
Climate Resilience Sector Project (RRP TON 46351) Sector Road Map SECTOR ASSESSMENT (SUMMARY): CLIMATE CHANGE 1. Sector Performance, Problems, and Opportunities 1. Tonga is being affected by climate change,
More informationSCALING UP AGRICULTURAL FINANCE
SCALING UP AGRICULTURAL FINANCE Can Small Scale farmers be financed on commercial basis by a Financial Institution? The Case of KCB BANK RWANDA LTD Presentation profile 1. Rwanda s Agricultural scene 2.
More informationFACT SHEET. Production Risk
ALABAMA AGRICULTURAL & MECHANICAL UNIVERSITY SMALL FARMERS RESEARCH CENTER FACT SHEET Production Risk Any production related activity or event that is uncertain is a production risk. Agricultural production
More informationAn Insurance Guide for Small Business
INSURANCE GUIDE An Insurance Guide for Small Business The Bermuda Small Business Development Corporation (BSBDC) in conjunction with Freisenbruch-Meyer Insurance Services (FMIS) is pleased to make this
More informationTerms of Reference for consultants
Terms of Reference for consultants The consultants for the proposed TA will largely comprise actuaries, underwriters and data analysts with relevant experience in crop insurance and their expertise will
More informationpractical problems. life) property) 11) Health Care Insurance. 12) Medical care insurance.
Training Courses Busisness Soluation For The Insurance Services Industry First: Professional Insurance Programs 1) Fundamental of Risk &Insurance. 2) Individual life Insurance Policies. 3) Group life Insurance
More informationIntent to deceive Desire to induce insurance company or takaful operator to pay more than it otherwise would.
Introduction This booklet aims to provide you with an understanding of what insurance fraud is and how fraud may impact the cost and availability of insurance. It gives you basic information so that you
More informationPasture, Rangeland, and Forage Insurance: A Risk Management Tool for Hay and Livestock Producers
October 2012 Pasture, Rangeland, and Forage Insurance: A Risk Management Tool for Hay and Livestock Producers Monte Vandeveer, Otoe County Extension Educator University of Nebraska-Lincoln Institute of
More informationPresentation on Crop Insurance by P. Nagarjun Ex. General Manager AIC Technical Consultant / OSD, Department of Agri. Govt. of A.P.
Presentation on Crop Insurance by P. Nagarjun Ex. General Manager AIC Technical Consultant / OSD, Department of Agri. Govt. of A.P. Indian Agriculture Major causes of Damage Drought / Dry Spell Heavy Rains
More informationLeveraging the (re)insurance sector for financing integrated drought management practices
Leveraging the (re)insurance sector for financing integrated drought management practices Roger Stone, University of Southern Queensland, Australia. World Meteorological Organisation, Commission for Agricultural
More informationVITHYEA KHIEV Rural Development Bank of Cambodia Daun Penh District, Phnom Penh, Cambodia
Experiences of Cambodia s Rural Development Bank Program on Agricultural Value Chain Finance VITHYEA KHIEV Rural Development Bank of Cambodia Daun Penh District, Phnom Penh, Cambodia Regional Training
More informationAGRICULTURAL INSURANCE PRACTICES AND EXPERIENCE IN NEPAL (CROP AND LIVESTOCK)
AGRICULTURAL INSURANCE PRACTICES AND EXPERIENCE IN NEPAL (CROP AND LIVESTOCK) - Dip Prakash Panday Chief Executive Officer, Shikhar Insurance Company Ltd. 1 Development of Agri Insurance in Nepal > Non-insurance
More informationTechnology For Adaptation. Forestry Conservation Management. Dr. Javier Aliaga Lordemann
Technology For Adaptation. Forestry Conservation Management Dr. Javier Aliaga Lordemann Forests has more carbon store than the currently carbon free atmosphere. By contrast, are important sources of emissions
More informationDrought Risk Assessment:
Drought Risk Assessment: Mapping the Vulnerability of Agricultural Systems Dr. Jianping Yan Disaster Risk Assessment Specialist Session Outline Understanding the Concept of Vulnerability Mapping the Agricultural
More informationWhat Percent Level and Type of Crop Insurance Should Winter Wheat Growers Select? 1
Disclaimer: This web page is designed to aid farmers with their marketing and risk management decisions. The risk of loss in trading futures, options, forward contracts, and hedge-to-arrive can be substantial
More informationNEWFOUNDLAND AND LABRADOR CROP INSURANCE AGENCY
NEWFOUNDLAND AND LABRADOR CROP INSURANCE AGENCY Annual Performance Report April 01, 2011 March 31, 2012 Table of Contents Chairperson s Message... 1 Overview... 2 Lines of Business... 6 Outcomes of Activities...
More informationINSURING FUTURE CLIMATE CHANGE. Oslo 3 4 November 2008. Natural Catastrophe Risk Management Policy in Norway
INSURING FUTURE CLIMATE CHANGE Oslo 3 4 November 2008 Natural Catastrophe Risk Management Policy in Norway 11/24/2008 Norwegian Natural Perils Pool 1 Compensation for damage due to natural disaster Already
More informationDRAFT THE PROGRESS ON AGRICULTURAL INSURANCE IN SOUTH AFRICA
DRAFT THE PROGRESS ON AGRICULTURAL INSURANCE IN SOUTH AFRICA AGRICULTURAL INSURANCE IN SOUTH AFRICA Agricultural insurance in South Africa stems from the 1970 s when a South African government subsidized
More informationAgricultural Production and Research in Heilongjiang Province, China. Jiang Enchen. Professor, Department of Agricultural Engineering, Northeast
1 Agricultural Production and Research in Heilongjiang Province, China Jiang Enchen Professor, Department of Agricultural Engineering, Northeast Agricultural University, Harbin, China. Post code: 150030
More informationAn analysis of production and marketing of coconut in Tumkur District, India
ISSN: 2347-3215 Volume 2 Number 10 (October-2014) pp. 167-175 www.ijcrar.com An analysis of production and marketing of coconut in Tumkur District, India S.Shashikumar* and H.M.Chandrashekar Department
More informationNatural Perils Insurance without Equal. 18 october 2011
Natural Perils Insurance without Equal 18 october 2011 2 Imprint Recipients: Interested parties within and outside the insurance industry Published by: Swiss Insurance Association SIA Conrad-Ferdinand-Meyer-Strasse
More informationNATIONAL AGRICULTURAL INSURANCE SCHEME (NAIS) - A NOVEL CROP INSURANCE SCHEME
NATIONAL AGRICULTURAL INSURANCE SCHEME (NAIS) - A NOVEL CROP INSURANCE SCHEME Q 1 : What is insurance? Ans: Insurance is a fiancial arrangement whereby losses suffered by a few are met from the funds accumulated
More informationCameroon CFSVA April/May 2011. Cameroon Comprehensive Food Security and Vulnerability Analysis. April/May 2011. Page 1
Cameroon CFSVA April/May 2011 Cameroon Comprehensive Food Security and Vulnerability Analysis April/May 2011 Page 1 Cameroon CFSVA April/May 2011 Photo: Jane Howard Food insecurity high despite great agricultural
More informationTraditional Products. The two Traditional Crop Insurance Products are: Named Peril Crop Insurance (NPCI) Multi Peril Crop Insurance (MPCI)
Traditional Products Traditional crop insurance relies on the principle of indemnity, where losses are measured in the field either after the event (named peril crop insurance) or through yield measurement
More informationResidential Landlords Insurance. Policy Summary
Residential Landlords Insurance Policy Summary Amlin Residential Landlords Insurance policy summary This insurance is designed to provide you with a wide range of standard cover in connection with the
More informationDRAFT MALAYSIAN STANDARD
DRAFT MALAYSIAN STANDARD 14A004R0 STAGE: PUBLIC COMMENT (40.20) DATE: 01/03/2015 30/04/2015 Fresh water convolvulus (Ipomoea reptans and Ipomoea aquatica) - Specification ICS: 67.080.20 Descriptors: water
More informationCommon Format for Project/Program Concept Note for the Use of Resources from the PPCR Competitive Set-Aside (Round II)
Common Format for Project/Program Concept Note for the Use of Resources from the PPCR Competitive Set-Aside (Round II) 1. Country/Region: BOLIVIA 2. CIF Project ID#: 3. Project/Program Title: 4. Date of
More informationHEALTH INSURANCE. IC 01 - PRINCIPLES OF INSURANCE (Revised Edition: 2011) Objectives
HEALTH INSURANCE IC 01 - PRINCIPLES OF INSURANCE (Revised Edition: 2011) Objectives This course intends to provide a basic understanding of the insurance mechanism. It explains the concept of insurance
More informationDeficit Rainfall Insurance Payouts in Most Vulnerable Agro Climatic Zones of Tamil Nadu, India
Deficit Rainfall Insurance Payouts in Most Vulnerable Agro Climatic Zones of Tamil Nadu, India S.Senthilnathan, K.Palanisami, C.R.Ranganathan and Chieko Umetsu 2 Tamil Nadu Agricultural University, Coimbatore,
More informationCHAPTER 1 Introduction to Direct Farm Marketing and Risk Management
CHAPTER 1 Introduction to Direct Farm Marketing and Risk Management Consumer Buying and Eating Habits are Changing... 2 Managing Your Farm s Legal Liabilities is Critical for Direct Marketers... 3 How
More informationC'\ ~~~',g~'~~'~~1 ROYAL GOVERNMENT OF BHUTAN ~ MINISTRY OF FINANCE TASHICHHO DZONG
C'\ ~~~',g~'~~'~~1 ROYAL GOVERNMENT OF BHUTAN ~ MINISTRY OF FINANCE TASHICHHO DZONG MOF IPED/27 12012/1780 20 th September 2012 The Ministry of Finance is pleased to notify that the Royal Government has
More informationRisk Management Agency
Risk Management Agency Premium Rate Study Update Questions & Answers November 2012 Q1 Why is RMA examining premium rates and the process for determining them? A1 Section 508(i) of the Federal Crop Insurance
More informationSYLLABUS FOR IMF EXAMINATION [As per IRDAI (Registration of Insurance Marketing Firms) Regulations, 2015] SECTION I
NATIONAL INSURANCE ACADEMY, PUNE SYLLABUS FOR IMF EXAMINATION [As per IRDAI (Registration of Insurance Marketing Firms) Regulations, 2015] SECTION I 1. INSURANCE MARKETING FIRM S REGULATIONS 2. PRINCIPLES
More informationINSU 2500 Chapter 2. Insurance Principle. Ideally Insurable Loss Exposures. How Does an Insurance System Work
INSU 2500 Chapter 2 August 31 Insurance Principle Since not all exposures or risks are insurable - the redistribution process must be financially feasible and sustainable over a long period of time. So
More informationAgriInsurance in Canada
AgriInsurance in Canada Brad Klak, President and Managing Director Merle Jacobson, COO, Operations Division Agriculture Financial Services Corporation Alberta, Canada Agriculture in Canada Total Cash Receipts
More informationAgricultural Data and Insurance
Agricultural Data and Insurance Innovations in agricultural data development for insurance Background Insurance requires high quality data. From an insurance perspective data is high quality if it is timely
More informationIFC Global Index Insurance Facility Response to the EU Green Paper on the insurance of natural and man-made disasters
IFC Global Index Insurance Facility Response to the EU Green Paper on the insurance of natural and man-made disasters 1 2 Table of Contents Insurance pricing as an insurance market-based incentive to promote
More informationGREEN PAPER. on the insurance of natural and man-made disasters
EUROPEAN COMMISSION Strasbourg, 16.4.2013 COM(2013) 213 final GREEN PAPER on the insurance of natural and man-made disasters Comments from the Danish Financial Supervisory Authority EN EN (1) (1) What
More informationTrade Credit Insurance. Global Trade
Trade Credit Insurance Global Trade Credit Solutions Contents ACE Trade Credit insurance: vital protection against non-payment 03 Who would benefit from ACE Trade Credit insurance? 04 Features of your
More informationMarch 2014. CGU Insurance Limited
March 2014 CGU Insurance Limited OUR HERITAGE 1696 1861 1998 2003 1696 The CGU story begins in London with a company called the Hand in Hand Fire & Life Insurance Society, founded at Tom s Coffee House
More informationYield Protection Crop Insurance will have the same Yield Coverage as Revenue Protection, but RP is Expected to be the Preferred Choice (Updated) 1
Disclaimer: This web page is designed to aid farmers with their marketing and risk management decisions. The risk of loss in trading futures, options, forward contracts, and hedge-to-arrive can be substantial
More informationBusiness Package - Engineering & Contractors Insurance
Business Package - Engineering & Contractors Insurance www.tawuniya.com.sa 03 04 04 05 05 05 10 10 10 Why Tawuniya? Business Package Engineering & Contractors Insurance Package Benefits & Advantages Beneficiaries
More informationWEATHER DERIVATIVES AND SPECIFIC EVENT RISK. Calum G. Turvey
WEATHER DERIVATIVES AND SPECIFIC EVENT RISK By Calum G. Turvey Associate Professor Department of Agricultural Economics and Business Faculty of Management University of Guelph Guelph Ontario Canada Paper
More information