Crop

Dry, hot conditions ravaged large parts of Canada throughout 2021—setting a new Canadian record.

The record rainfall that hit the province of Henan in China the week of July 19 caused extensive flooding.

India’s main crop insurance scheme is the PMFBY, a multiple-peril yield-based crop insurance program. A majority of PMFBY premiums are subsidized by central and state government payments to insurers to maintain modest premium rates charged to farmers.

China experienced multiple extreme weather events in 2020 that resulted in crop insurance losses.

There is justified concern about effects of climate changes on agriculture in the U.S. and across the globe.

The biggest driver of crop premium rates set by the RMA for revenue products is price volatility.

Multiple peril crop insurance (MPCI) is currently the most common form of crop insurance in China.

In February 2020, the federal government of India implemented changes to the existing crop insurance program.

Agricultural insurance premiums in China have risen since government-funded subsidies were expanded in 2007.

Severe thunderstorm activity is particularly common in the U.S. Great Plains, Midwest, and Southeast.