Agriculture reinsurance solutions for insurers

As an  agricultural insurance  provider,  you’re  under constant pressure  to maintain your competitive edge.  Having  a strong partner in reinsurance  certainly helps. Wherever you are in the world, we can assist you in  factoring  in  the  possible impacts  of  climate change,  such as  increasing  rainfall, heatwaves, droughts, unseasonable frosts,  and windstorms. These  conditions  present serious challenges to  your business as an  insurer of  agricultural risks.  And our  agricultural insurance experts  stand ready to  assist  you  with individual, needs-based reinsurance solutions, as well as  advice on product design for the following lines:  

• Crop hail insurance:  Coverage of hail on standing crops
• Multi-peril crop insurance:  Coverage of  all-natural  perils (drought, excessive rainfall, frost, windstorm, etc.)
• Revenue insurance:  Coverage of natural perils (drought, excessive rainfall, frost, windstorm, etc.) linked to commodity price fluctuations
• Livestock insurance:  Coverage includes animal accident and life insurance, transport and quarantine, business interruption due to epidemics, diseases, technical malfunction  
• Greenhouse insurance:  Coverage of the failure of technical facilities (e.g. heating, irrigation systems) and natural hazards (hail, wind, etc.)
• Insurance of forestry plantations:  Coverage of forestry plantations, risk management of planted trees
• Aquaculture insurance:  Coverage of aquaculture stock and equipment

Today, farmers find it more and more difficult to rely on stable crop yields. To counteract this trend, particularly in poorer countries, initiatives from the World Bank and other multilateral institutions, non-government organizations and donors increasingly turn to agricultural insurance. This also has application in industrialized countries where, for example, they make widespread multi-peril crop insurance possible.

Governments  and the insurance industry  want  to ensure that farmers can make long-term investments without incurring substantial risks.  Public-private partnerships  (PPPs) are part of an intelligent solution at national level in which farmers, governments  and the insurance industry work together.  Our role is to connect  the different players and develop optimum solutions,  based on  our expertise and global business connections. There are  already multiple  successful PPP models worldwide,  which Munich Re builds on when assisting you in the design of a new solution.