Taiwan to expand agricultural insurance
Friday, 06 09 2017, Category: Insurance and Reinsurance, Country: Asia
Taiwan’s Council of Agriculture (COA) has announced plans to expand its disaster insurance programme for the agricultural sector to include rice and bananas, suggesting a need for greater reinsurance capacity and the potential for the capital markets to play a role in the future.
The COA introduced a disaster insurance scheme for farmers that grow pears, mangos, and sugar-apples in 2016. So far, the programme has rolled out 164 insurance policies to pear farmers, 92 insurance policies to sugar-apple farmers, and six insurance policies to mango farmers, according to Hsu Wei-wen, Bureau of Agriculture Finance Director.