It is interesting to note the following sales collateral from noted specialist rural insurers in Australia that, as at February 2020, do not offer Drought cover for Livestock within their Livestock offerings:
- WFI – ‘Chose the level of insurance that suits you’
- Achmea – ‘All-in-One Farm Pack allows you to tailor your cover and insure what matters most to your livelihood’
- Elders – ‘Find the cover that’s right for you’
Above referenced in previous update here
In the USA the below Pasture, Rangeland & Forage (PRF) program, issued by ProAg, is currently in pilot stage – full brochure attached in PDF:
The financial impact of the Drought was referenced at the National Press Club address by Governor of the Reserve Bank of Australia, Philip Lowe, here
on Wednesday the 5th February 2020 – from the 23minute mark:
- Farm output declined by 16% between 2017-2019;
- Farm exports fell by 13% between 2017-2019;
- Farm production expected to fall by circa 10% in 2020;
The below article released on the 31st January 2020 from the Australian & New Zealand Institute of Insurance and Finance (ANZIIF) features
OBA Consulting Managing Director, Brett O’Brien:
ANZIIF is considered the Asia-Pacific regions leading education, training and professional development organisation for Insurance and Finance.
The full article is attached in PDF.