From extensive arable farming, specialist horticultural to perennial agricultural production, we provide the expertise to address the risk management needs of crop producers and agro processors.
Agriculture insurance is one of the key elements to stabilize farmers by compensating for crop losses arising out of drought, flood and other causes. In 2016, India overhauled crop insurance to expand its coverage of farmers and farm areas. Initially, it did expand the coverage but since then it has seen a downward slide.
The agriculture industry is a dynamic space that continually evolves to meet changing market demands. The farm to table Agricultural Revolution, Zero Budget Natural Farming, Global Warming, Water Shortage, Population Growth, Dietary Habits, Food Technology are all having a significant effect on the agricultural industry.
Crop insurance schemes are part of the solution to climate change which can protect farmers from poor yields. At Prudent, our specialist team is fully dedicated to providing clients with innovative solutions that insure them from significant risks such as poor crop yields on account of climate change. We negotiate with insurers and reinsurers to develop solutions that meet our clients' unique needs.
Globally, crop insurance schemes have not succeeded as they have failed to address moral hazard and adverse selection risks. Currently in India, we have two main crop insurance schemes namely the Pradhan Mantri Fasal Bhim Yojana (PMFBY) and the Revised Weather-Based Insurance Coverage Scheme (RWBICS).
We have vast experience working as a full-service insurance broking agency.
See some of the speciality solutions